The steps involved in a typical commercial closing include conducting due diligence, negotiating and finalizing contracts, obtaining financing, resolving any outstanding issues, and completing the transfer of ownership through the execution of legal documents and payment of funds.
Are there any special considerations for purchasing a mixed-use commercial property?
Yes, purchasing a mixed-use commercial property involves unique challenges and considerations, such as zoning restrictions, tenant agreements, and maintenance responsibilities. Our firm has the expertise to navigate these complexities and ensure a successful closing for our clients.
How do I know if the commercial property has any easements that may affect my ownership rights?
Our firm conducts a thorough review of land records and performs a detailed title search to identify any existing easements that may affect our clients’ ownership rights. We provide clear guidance on how these easements may impact the property and advise on potential courses of action.
Do you assist with drafting commercial lease agreements as part of the closing process?
Yes, we provide comprehensive legal assistance in drafting commercial lease agreements as part of the closing process, ensuring that our clients’ interests are protected and that the terms of the lease are fair and enforceable.
What happens if there is a dispute during a commercial closing process?
In the event of a dispute during a commercial closing, our firm employs various dispute resolution techniques, including negotiation, mediation and litigation, if necessary, to achieve a favorable outcome for our clients.
Do you assist with drafting and reviewing commercial closing contracts?
Yes, we specialize in drafting and reviewing commercial purchase and sale agreements to protect our clients’ interests and ensure that their rights are fully represented in the transaction.
How can I ensure that all liens are cleared before closing on a commercial property?
Our firm conducts a comprehensive title search to identify any outstanding liens or encumbrances on the property. We work diligently to ensure that all liens are cleared before closing, giving our clients peace of mind knowing that they are acquiring clear title to the property.
What role does a survey play in a commercial closing?
A survey is essential in a commercial closing to identify the boundaries of the property, any encroachments, easements, or other restrictions that may affect ownership rights. It helps ensure that the buyer is aware of the property’s physical characteristics before completing the transaction.
What are the common pitfalls to avoid during a commercial closing?
Common pitfalls to avoid during a commercial closing include overlooking important contractual terms, failing to conduct thorough due diligence, and not anticipating potential legal or financial issues that may arise.
Are there any environmental considerations I need to address before a commercial closing?
Yes, environmental considerations are crucial in commercial transactions to identify any potential contamination or liabilities associated with the property.


