LAWYERS FOR COMMERCIAL REAL ESTATE TRANSACTIONS

LAWYERS FOR COMMERCIAL REAL ESTATE TRANSACTIONS

Rozhik Law Firm PLLC provides transaction services for commercial real estate in Brooklyn NY. Commercial real estate laws can be very complex, as transactions are subject to contractual provisions, statutory requirements and limitations, as well as county or local procedures or restrictions. If you are not fully conversant with commercial real estate law’s intricacies, you can quite easily miss a requirement or make an error. Our team of commercial real estate attorneys fortunately have lots of experience that allow them to manage commercial real estate transaction complexities.

Transaction Services for Commercial Real Estate in Brooklyn NY

Rozhik Law Firm PLLC offers the following commercial real estate services:

• Real Estate Portfolio Disposition and Purchase
• Sale and Purchase Agreements
• Title Insurance and Property Title Reviews
• Counseling for Commercial Real Estate Transactions
• Contracts for Commercial Real Estate Transactions
• Title Insurance Policy Issuance
• Foreclosure Property Sale and Purchase Management
• Leases for Commercial Real Estate
• Real Estate Project Operating and Partnership Agreements

Disposition and Purchase of Real Estate Portfolios

Structuring real estate portfolios of properties to be sold can be complex, especially when bundling multi-state properties or mortgage loans that are not performing. The protections and contingencies for all parties are especially complicated. It’s crucial that the transferee and transferor both have a comprehensive understanding of the agreement’s ramifications.

Attorneys who don’t have specific experience in the sales and purchases of real estate portfolios can miss important considerations or find it difficult to untangle the complicated terms. Having an experienced real estate attorney review or prepare the agreement will assist you in understanding fully what you’re promising and what you’re receiving.

Sale and Purchase Agreements

Sale and purchase agreements are at the core of commercial real estate transactions. An agreement that is constructed well is complete and clear, and will enable both parties to eliminate most conflicts and questions that may arise after completion or later during the transaction. Relying on form agreements or trying to modify agreements from past transactions could fail to meet legal requirements, create confusion or leave gaps.

Both parties should have different counsels to ensure the agreement is reviewed and negotiated fully so that both the seller and the buyer are protected, and the details are explained thoroughly.

Title Insurance and Property Title Reviews

Property title insurance and title research protect both sellers and buyers from losses associated with faulty property titles. The title chain has often been questioned in recent years. Although this is especially applicable when a property has in the past been foreclosed, title errors can also be caused by other circumstances.

Whether you’re selling or buying real estate, especially high-value commercial property, you need to protect yourself thoroughly. This means that you first need to ensure that title research was done properly and that there are no flaws, after which you have to make sure that a title policy will protect you fully should any issue appear later.

Counseling for Commercial Real Estate Transactions

Companies sometimes want to conduct a commercial real estate transaction internally and they may have the knowledge level to make this feasible, but they may need advice in specific areas or external assistance on aspects of the process that are particularly complex.

Counseling for commercial real estate transactions can equip an internal team to do most of the transactions, but help them recognize when they need help and have a resource ready for those cases.

Contracts Commercial Real Estate Transactions

In the legal arena, self-help is an increasing tendency, especially with drafting contracts. You may have sold or purchased commercial real estate previously, and therefore have a comparable contract available. It is also possible to find websites where template contracts can be downloaded, or services that let you fill in specific details and then generate a complete contract at a relatively low cost.

Trying to create commercial real estate contracts by yourself is however very risky, unless you have detailed knowledge that covers commercial real estate law’s intricacies. Commercial real estate lawyers with experience don’t simply complete the blanks. They will asks questions, anticipate concerns you might not have thought about, and advise you on which provisions should be removed from or included in a lease. They will also explain the exact meaning of those provisions.

Title Insurance Policy Issuance

Commercial real estate sellers and buyers both have to safeguard themselves by taking out title insurance. This insurance has been designed to safeguard the parties from losses relevant to property title flaws. The policies may be bought from either real estate law firms like ours or a title insurance company.

Buying a title insurance policy via a law firm has the advantage that the firm can offer a service that is more robust than what title insurance companies can provide, as the attorneys can offer legal advice and prepare legal documents relating to the policy.

Foreclosure Property Sale and Purchase Management

Even in the most straightforward of scenarios, purchasing and selling commercial real estate is complex. Greater care is needed when the property is sold as a short sale to prevent a pending foreclosure, or offered at auction in a foreclosure sale.

To ensure a transparent process that results in you as either the seller or buyer being fully protected, it’s best to work with commercial real estate attorneys that are experienced in dealing with foreclosure sales.

Leases for Commercial Real Estate in Brooklyn NY

Like a contract, a commercial real estate lease can be generated from templates on a website or copied from existing leases. This will however often lead to a disastrous result. A common perception is that leases for commercial property are essentially the same and don’t have to be specifically created for a transaction. This perception is not only wrong, but also dangerous.

The only way to make sure that you fully protect your interests is to let an attorney who has experience with such leases prepare your commercial real estate lease. The attorney should also be very familiar with your plans and the specific details of the property.

Real Estate Project Operating and Partnership Agreements

When individuals enter into a partnership to develop or operate commercial real estate, it is crucial for the parties to draw up an agreement that will cater for every possible scenario. As each venture is however different, it can be very difficult to cater for all possible scenarios.

The commercial real estate lawyers at Rozhik Law Firm PLLC have wide experience required to make sure that an operating or partnership agreement safeguards your interests fully, and that you are fully familiar with your obligations and rights specified in the agreement before the project gets started.