When buying commercial property, you will encounter various complexities entangled within the transaction. Retaining a commercial real estate attorney will allow for a smoother transaction, while ensuring your rights are protected.
REASONS TO HIRE A COMMERCIAL REAL ESTATE ATTORNEY
As stated above, the process of purchasing commercial property can be complex. This type of transaction will require skilled negotiating with the seller, drafting multiple legal documents, complying with intertwining laws and regulations, ensuring your rights are protected, engaging in risk management, and any other relevant services specific to the transaction. For these reasons, it is important that you prioritize partnering with and retaining a Commercial Real Estate Attorney in Los Angeles.
(1) Engage in Negotiation
Every word and term is up for negotiation in a commercial real estate transaction, hiring an attorney with great negotiation skills is crucial. Having an experienced attorney advocate on your behalf during negotiations, while maintaining reasonable expectations for all parties is essential to completing the transaction. The attorney will help protect your interests and rights, ensuring that you receive a fair deal with the seller.
(2) Ensure Compliance with Various Laws and Regulations
When purchasing commercial real estate, an attorney will save you time and the headache of worrying about the various laws and regulations intertwined with the transaction and ownership. An attorney will conduct thorough legal research including, but not limited to zoning, taxes, and licensure, to certify that your desired use of the property is in compliance with any and all laws.
(3) Draft Legal Documents
Allowing your attorney to draft the legal documents will guarantee that there are no suspicious contract terms and that you are entering into a fair deal. In addition, the attorney will engage in risk management and identify any potential financial pitfalls to maximize your protection.
(4) Peace of Mind
Most importantly, hiring an attorney will make purchasing the property infinitely less stressful. You are hiring an attorney to perform due diligence, engage in negotiations, ask the right questions, and draft the necessary documents, all while maintaining your best interests. Your attorney will take on the worries involved with this transaction, relieving you of any related stress.
HOW A REAL ESTATE ATTORNEY FROM GOMEZ & SIMONE, APLC CAN HELP YOU
Recently, Gomez & Simone, APLC was consulted for a business owner’s acquisition of a winery, which definitely falls under the category “high-value business purchase”.
As stated above, our goal was to ensure that the purchase of the winery went smoothly and fairly. In doing so, we anticipated engaging in detailed negotiations with the seller, guaranteeing the buyer’s interests and rights were protected. After negotiations, we anticipated drafting the purchase and sale documents related to this acquisition and winery business, which included representations and warranties made by the seller.
In addition to the above, there are specific issues to consider when handling the purchase of a winery business. For instance, due diligence needs to be conducted regarding an investigation of the land, compliance with state and federal alcoholic beverage laws, licensure, and ordinary business operations.
With all these considered, whether you are a first-time buyer or someone with experience in purchasing commercial property, it is critical that you hire an attorney to assist with your purchases. The attorneys at Gomez & Simone, APLC have extensive experience with commercial real estate and can effortlessly guide you through the process. So, if you’re considering a high-value business purchase, consider Gomez & Simone, APLC, and contact us today!