What types of commercial real estate transactions require the services of a lawyer?
In California, any type of commercial real estate transaction requires the services of a qualified lawyer. This includes the purchase, sale, lease, financing, management, and development of commercial real estate. Depending on the complexity of the transaction, several legal professionals may be necessary to ensure that the transaction is conducted safely and lawfully. When it comes to the purchase of commercial real estate, a lawyer will review all documents, conduct due diligence, register documents with the local government or state, and provide advice to the purchaser on the best form of ownership, taxes, and potential risks. Additionally, the lawyer will advise on the type of mortgage that is most suitable for the purchaser. When it comes to the sale of commercial real estate, the lawyer will help the seller to review all documents, register the documents with the appropriate government or state, provide advice to the seller on the best form of ownership and taxes, and ensure that all provisions related to the escrow and closing of the sale are followed. When leasing commercial real estate, a lawyer will help both the landlord and tenant to review the lease agreement and make sure all necessary provisions are included. Additionally, they will help to make sure that any rules and regulations pertaining to the property are followed. When obtaining financing for commercial real estate, a lawyer will help to review all loan documents and act as a liaison between the lender and borrower. Lastly, when it comes to the development of commercial real estate, a lawyer will help to protect the developer’s interests by negotiating and drafting pre-development agreements, construction contracts, and other documents as needed for the development process.
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