Commercial real estate transactions are complex, with intricate city, state, and federal laws, as well as the massive amounts of legal documentation that must be completed for the sale to be valid, and for your investment to be protected. Don’t leave this large investment to chance – you need a real estate attorney to help facilitate the sale and represent your best interests.
At Bolinger Law Firm in St. Louis, you can count on our experienced real estate legal team to be your trusted counsel with control over the complicated real estate process, securing your commercial real estate investments with efficiency, assuredness, and in accordance with the laws.
Real estate law is an extensive process that encompasses vast paperwork and documentation that must follow strict, detailed property laws, insurance laws, and contract laws at the federal, state, and local levels.
The following are some examples of the process; each commercial real estate situation is unique and requires exactness in its process.
Most commercial real estate contracts must follow the Uniform Commercial Code – this code requires the sale to be covered by the Common Law of Contracts. For a final contract to be legally recognized as “an acceptance of the sale,” the accepted terms must be an exact mirror image of the terms of the offer. If any changes are made to the offer by either the seller or the buyer, there can be no acceptance. It must be rewritten or amended because the offer has been changed. It then becomes a rejection and a counteroffer situation.
A real estate attorney is recommended for handling leases and rental agreements. These legally binding contracts need acceptance by both parties and require counteroffers until a deal has been reached. Therefore, these documents must contain very rigid lawful language to stand up to any challenges (either from one of the parties involved or outside entities).
As you can imagine, insurance on a commercial property is not an option. Your investment and avoidance of potential lawsuits makes insurance a necessary contract.
Your Bolinger Law Firm real estate attorney will help you choose the right policy to ensure that you, the property, and contents (if necessary), are well covered in case of accident, incident, or catastrophe. If you’re leasing, the property of your tenant may be covered as well, should certain accidents occur.
In St. Louis and the surrounding communities, there are countless zoning and land use regulations to consider when buying a commercial property. State local legislation also often dictate how the zoning, land use, and environmental laws are enforced.
These complex and often lengthy regulations and laws determine how a commercial property may operate – for example, retail, restaurant, manufacturing, housing, and offices – and within each entity, the details may even include what type of retail space or manufacturing business can be on the property or premises.
If zoning laws are not followed, your business can be fined or shut down permanently. Having a real estate attorney ensure that your commercial endeavor fits the land use, zoning, and environmental rules of the property can avoid a legal mess later and see that your business can be established successfully.