Virginia law gives buyers and sellers the option of using an attorney or a title and escrow company to handle their real estate settlement. However, when you are purchasing property that will become a company office, storefront, or warehouse, working with a commercial real estate attorney is the best way to avoid the risks associated with making an uninformed legal decision.
Reasons to Hire a Commercial Real Estate Attorney
A commercial real estate attorney offers a much broader range of services than what you would find at a title or escrow company. Your attorney can:
Make sure the deal is legitimate.
Commercial real estate deals are more complex than residential transactions. For example, your contract could include several thousands of dollars in tax debt you’d never see unless you knew what to look for.
Know the zoning laws.
Running afoul of local zoning laws can create a major headache. A commercial real estate attorney can make sure your plans for the property will be approved.
Look for hidden defects.
A property might look presentable to the naked eye but have serious structural defects. Your attorney will put a property inspection clause on the buyer’s documents to make sure the property is suitable for your purpose.
Contrary to popular belief, every word of a commercial real estate contract is up for negotiation. A skilled real estate attorney can help you minimize unnecessary expenditures associated with your purchase.
As a business owner, your priority should be delivering top-notch products or services to your clients. A real estate attorney can make sure the transaction proceeds smoothly, so you can keep doing what you do best.
Do You Need A Real Estate Lawyer? Discover the Alperin Law Advantage
At Alperin Law, our staff is available seven days a week should you have questions related to residential or commercial real estate transactions in Virginia or North Carolina. Contact us online, or call our Virginia Beach office directly to learn how we can be of service. We serve all communities in Eastern Virginia, including Virginia Beach, Chesapeake, Norfolk, Portsmouth, Suffolk, Newport News, Isle of Wight County, Hampton, the Eastern Shore and Northeastern North Carolina, including Currituck, Elizabeth City, and the Outer Banks.
Related links:Understanding Buy-Sell Agreements for Your Virginia Business