Negotiating a favorable commercial real estate deal will provide you with many short-term and long-term advantages; however, doing so often requires the guidance of an experienced Fort Lauderdale commercial real estate attorney.
When considering legal representation in a commercial real estate transaction, you should consider the following factors among others:
Do legal agreements need to be drafted?
Most commercial real estate deals require legal agreements including leases, purchase and sale agreements, operating agreements for new LLCs and others. You will never want to try to draft your own agreement or use a premade contract with any commercial real estate deal; the risks are higher that you’ll leave out one or more clauses that will make you vulnerable to liability in the future. You’ll always want to hire a Fort Lauderdale commercial real estate attorney to draft any required agreement during your deal.
How complex is the transaction?
The majority of commercial real estate deals are complex, multi-step processes that require expert guidance along the way, even for those with experience. If the transaction holds even the slightest possibility of moving beyond a straightforward deal, hiring a Fort Lauderdale commercial real estate attorney is advisable to be certain all the agreements are favorable to you, and that the proper due diligence steps are conducted prior to your closing.
Will there be negotiations involved?
There are often extensive negotiations involved with commercial real estate deals, and it’s always a wise decision to hire an attorney to represent your interests and resolve any disputes during them. Negotiations can also sometimes become heated, and your attorney will be able to offer a reserved third party view when needed in order to keep the deal moving along.
Are there deadlines?
If there are any deadlines for the transaction that are critical to your project’s financial success, you will greatly benefit from hiring a Fort Lauderdale commercial real estate attorney. Your attorney will help ensure that negotiations are going forward at the required speed and that your closing occurs on time. For example, if the seller is dragging their feet with any closing requirements, your attorney can press them to get these requirements completed in order to meet your deadline.
If you’re in the process of dealing with any commercial real estate transaction in the South Florida area or Fort Lauderdale, Mark Schecter at Schecter Law can offer you expert legal guidance to ensure that the deal is favorable to you. For a detailed consultation, contact Schecter Law today at (954)-779-7009.