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William J. Newstad, Attorney at Law
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Why Should You Work with an Attorney When Buying Commercial Real Estate?

Posted on: April 28th, 2014

Why Should You Work with an Attorney When Buying Commercial Real Estate?

Even for experienced realtors, the process of buying a commercial property can prove difficult. There are often a number of rather complex legal matters that need be addressed, and when it’s your money that’s on the line, you want to be sure that everything goes smoothly. Fortunately, a qualified attorney can help you navigate the complex terrain that is commercial real estate buying.

Much of the uncertainty that comes with buying commercial real estate arises from an overall unfamiliarity with the process. A large part of the role an attorney plays in the real estate buying process is explaining the situation you’re about to enter. A good lawyer helps you understand the content of any purchase contract, mortgage agreement and insurance documents you need to sign to complete the transaction.

In addition, a skilled attorney reviews all of the documentation associated with the sale, making sure that everything is in proper order. If there are issues with the property title, outstanding taxes on the property or any items that need to be amended or excluded from the sales agreement, a real estate lawyer allows you to more easily identify and challenge them.

An experienced attorney can also help you negotiate your purchase price with the seller, ensuring you get a fair deal. Choosing to negotiate by yourself can put you in a weak position from the beginning, particularly if the seller has a lawyer. Your attorney serves as an effective and authoritative conduit through which all of your communications with the seller pass.

If you have questions or need guidance when buying commercial real estate, don’t hesitate to reach out to a skilled Staten Island attorney.

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