3 Ways a Commercial Real Estate Lawyer Will Protect Your Interests

Investing in different types of commercial properties is a great way to create a consistent revenue stream. Along with knowing what type of property to buy and ensuring it’s zoned for the type of function you have in mind, there’s the matter of making sure there are no legal issues that could arise. A commercial real estate lawyer Toronto can protect your interests in several ways. Here are three examples to consider.

Going Over the Provisions Found in the Sales Documents
The legal counsel will do more than look over the sales contract. All documents related to the sale must be reviewed before you commit to anything. Doing so ensures that you do understand the provisions found in each document and that you agree with them. If there’s anything within those documents that is different from what you and the current owner discussed, that comply with current real estate laws.

Conducting a Second Check of the Property’s History
While there has likely already been one review of the property’s history. it never hurts to have the team at the legal firm conduct a second one. In the best case scenario, the results will confirm what you were told about the property history. If the effort turns up anything questionable about a past sale or indicates there’s an issue with property lines or other elements of that property, the commercial real estate lawyer Toronto will advise you of what can be done to resolve those issues before you proceed with the purchase.

Determining If There Are Any Active Liens Against the Property
Along with researching past sales and the related details, the commercial real estate lawyer Toronto can look into the status of the property today. If there’s a lien on the property that was not previously disclosed, your legal counsel will negotiate with the seller’s representatives to come up with a plan for satisfying the lien before you agree to the purchase. This will also help you avoid possible complications in the future.

There are other ways that a commercial real estate lawyer can help you. Before buying any type of property, seek legal counsel. In the long run, you’ll come out ahead.

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