Fort Lauderdale Commercial Real Estate Closings Attorney Represents Buyers, Sellers and Lenders
Reliable, detail-oriented service facilitates high value transactions
Commercial real estate represents a significant investment that can greatly contribute to the success of a business enterprise. At The Law Office of Tania Sayegh Bartolini, P.A., we regularly represent buyers, sellers and lenders at closings, making sure that our clients get the results they anticipated. We perform due diligence to discover any issues that might impede or prevent the closing. When we counsel a client to tap the brakes, it’s to save them the embarrassment, frustration and financial hardship of going through with a questionable deal. However, when we advise them the papers are ready to sign, they can do so with the utmost confidence.
Mastery of legal issues related to commercial real estate closings
Commercial real estate closings involve many of the same issues as single-home closings, such as title integrity, freedom from encumbrances and completion of promised repairs. But there are issues peculiar to commercial closings that only an experienced real estate attorney can manage, particularly where the property involves condominiums or other types of multiple units. These include:
- Legal entities’ authority — Commercial deals are generally made by business entities such as corporations and partnerships. Often, the buyer will create a new legal entity, as a subsidiary to the parent company, to be the legal owner of the property. Part of our due diligence is to check that all entities are properly constituted and that the personal representative of each entity has the legal authority to sign on behalf of that entity. We help our clients document their authority and we scrutinize the documents the other parties present.
- Right to rescind — Commercial real estate transactions are more complex and often more tenuous than residential sales. Residential buyers often “fall in love” with their prospective home and want to charge forward. Commercial buyers are always looking to preserve their right to withdraw from the deal. Therefore, contingencies must be built into the agreement, so a withdrawal does not cause the seller undue hardship.
- Environmental and zoning issues — Commercial buyers need to know they’ll be able to use the property for the purposes they intend. That can require performing an environmental impact study and acquiring any necessary licenses and permits. At the very minimum, the property must be zoned for the type of commercial activity intended.
- Lessee issues — If the buyer is a commercial landlord, it’s important to examine the leases for all of the tenants. The impending loss of a “magnet” tenant can seriously deplete the value of the entire property. Leases are also an issue in transactions involving residential apartment buildings and condominium complexes, where we have significant experience.
When you retain our services for your commercial closing, you get a knowledgeable and detail-oriented team that is meticulous about avoiding mistakes and creative in crafting solutions.
Contact a responsive real estate attorney in Broward County for your home closing
The Law Office of Tania Sayegh Bartolini, P.A. provides reliable legal guidance for commercial real estate closings in Fort Lauderdale and Broward County, Florida. To schedule a free consultation, call 954-603-1865 or contact us online today.