Tips For Finding A Reliable Real Estate Lawyer
Owning your business property is a practical and lucrative investment, but it’s not something your neighborhood real estate agent should handle. To protect your business, you need to look for a reliable real estate lawyer.
Nothing adds value to your business like real property. However, purchasing commercial real estate can be intimidating if you’re new to the game.
But how do you find someone with the right experience and know-how?
What Does a Commercial Real Estate Attorney Do?
While your local agent can manage most residential transactions, a real estate attorney is a must when buying commercial real estate. Commercial properties may involve complex issues like zoning laws and environmental impacts, as well as posing a financial risk to your entire business.
A real estate lawyer specializes in these unique scenarios, from ensuring the legal safety of your investment to assisting in further development and leasing contracts.
How Do You Find a Reliable Real Estate Attorney?
If you’ve never purchased commercial property before, you may wonder how to find an experienced real estate lawyer to handle your transactions.
Keep the following tips in mind:
Referrals
If you belong to your local chamber of commerce, you can solicit referrals from fellow business members. Even if you’re not a member, your chamber will have a directory of local members.
The adage about the importance of location in real estate is very true. Not only is location important to property value — it’s also critical to find a commercial real estate lawyer who is intimately familiar with your area’s codes and regulations
Meet Face to Face
Meet with any prospective commercial real estate lawyer to get a feel for their approach to business. It should sync with your own. A lawyer without a sense of urgency is a poor choice if you’re trying to take advantage of a quickly changing market.
On the other hand, if you’re just feeling out the potential, you don’t want an attorney who pressures you to make an offer you’ll regret later.
Check Credentials
A degree from a prestigious university looks good but consider your attorney’s experience. Find out what kind of real estate transactions they’ve done in the past. If the attorney has worked exclusively with retail space, they may not be the best choice if you plan to purchase a warehouse.
Examine Business Model
Take a good look at your commercial real estate lawyer’s team. A large firm might seem impressive, but it may mean that you get less personalized attention.
Take this into account if you need a lawyer who can walk you through each step of the buying process.
More Than an Agent
Buying commercial property feels like a big step, but the results can outweigh the risks if you have a legal expert and a reliable real estate lawyer on hand to help you reduce those risks.
Your commercial real estate lawyer can help you with due diligence on any potential purchase and ensure a legal transfer of ownership with a clear title. This way, you can negotiate from a position of strength and make the most of your investment dollars.
