What Are The Different Types Of Commercial Real Estate Purchase And Sales That Your Firm Typically Would Handle?
The types of real estate that we’ve been involved in are varied. We have had some multi-use properties, warehouse purchases, and strip mall purchases, so we just run the gamut of many different types of properties and property usage.
What Are Some Common Issues That Affect Title And Could Hold Up A Commercial Real Estate Transaction?
A prevalent issue that can affect the title and hold up a commercial real estate transaction is that you will have preexisting mortgages and liens that come up in the title report that has never been marked “Satisfied.” Sometimes banks can be delinquent, and some banks have reputations for being delinquent in addressing mortgages when they’re satisfied. Nothing is more frustrating than having to deal with an old mortgage that’s long been satisfied. You can get the same issues with old liens as well.
Should I Use A Standard Leasing Agreement Contract Provided By Realtors To Buy Or Sell Commercial Property Or Should An Attorney Customize An Agreement For Us?
It depends on what your issues are regarding the use of standard forms from realtors. For example, if you’ve been marketing the property for some time without an agent and you think that some of the people that you’ve already contacted may be interested in buying, you want to make sure that you have carve-outs. If there are other types of related parties that won’t be connected to the realtor and their marketing of the property, you want to ensure that there are carves out for that as well. So, depending on the situation of the property, who the potential buyers are, and what your contact for those potential buyers has been, you may want to have carve-outs as to who you’re going to owe the realtor they fee to, depending on who the buyers are.
For more information on Real Estate Purchase & Sale in Pennsylvania, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (610) 756-2300 today.
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