Do not gamble with your financial fortunes and hire a commercial real estate lawyer to help you remove obstacles that can easily mess up your investments. The lawyers will indeed save you time and money by doing the paperwork on your behalf as well as representing your interests in case of disputes or complaints.
Commercial real estate law deals mainly with land and the associated structures found on it as well as the rights of individuals with legal claims and attachments on the said properties. These laws however are not standard world over; they vary widely depending on municipalities, states as well as countries. You will find that each country or any administrative unit has its laws and by laws that may differ from all others. Despite these variations, a good lawyer should be acquainted with his/ her local as well as international laws.
Functions of Commercial Real Estate Lawyer
Operating in the real estate industry without the services of a lawyer can be very detrimental for any investor that values their hard earned capital. This is because there is a lot of paperwork taking place to effect transfers of titles, conducting name searches and signing irrevocable contracts and agreements that one cannot afford to make a mistake. Lawyers are going to come in handy on several matters in the real estate market. Lawyers will particularly be beneficial during the:
• Sale, purchase and transfer of property.
• They also help in arbitration and resolution of landlord and tenant disputes as well as between renters and home owners.
• Transfer of titles of properties.
• Settlement of claims.
• Property development.
• Land use and zoning.
• Home loans and foreclosures.
• Drafting of title deeds.
• Dealing with boundary and zoning disputes.
• Representing people threatened with foreclosures.
• Filing of liens. A lien basically is the process of selling or keeping another party’s property as a security because of debt they have taken.
6 reasons why you will need the services of a real estate lawyer
• The first reason for seeking the services of a commercial real estate lawyer is the magnitude of real estate transactions. People invest their hard earned and even life savings in home and land acquisitions; therefore all care and precaution have to be taken to prevent unnecessary losses.
• Commercial real estate law will protect you when the property you are getting into has any zoning or encroachment issues. Such issues are usually not disclosed when you are making a purchase.
• They also help in case there are any previous agreements with other parties not present when you are taking property that may hinder your full utility of your acquisition.
• These lawyers will also help you to stop financial institutions from increasing your mortgage rates un-arbitrarily and will also intervene to prevent a foreclosure.
• These lawyers will help you detect faulty titles that either contested or do not have a clean record.
• The lawyers also explain to you the various taxes that you are going to pay.