Commercial Real Estate Closings
At Wright McLeod, we understand the issues unique to the commercial real estate industry. We handle all aspects of commercial transactions for lenders, purchasers or sellers from contract preparation to closing. It is important that any contract or agreement related to the transaction be either prepared or reviewed by our attorney’s before you sign.
Commercial real estate closings are far more complex than residential closings, often involving significant negotiation between individuals and/or corporate entities. These closings require far more due diligence than residential closings. Land use, zoning laws, survey issues and environmental issues must be thoroughly considered and reviewed in addition to the normal financial documents, titles searches and other steps.
Commercial real estate transactions may require formation of a new legal entity such as a corporation or limited liability company, or preparation of documents in order for your existing legal entity to satisfy a lender or buyer involved in the transaction.
Many commercial properties are purchased specifically because they have paying tenants, adding another level of complexity. Leases between the Seller and the Tenants must be reviewed and properly assigned to the buyer. If there are non-paying tenants, hold-over tenants, or tenants who simply don’t want to return phone calls, those tenants will need to be notified and evicted.
The success of your commercial transaction demands attention to even the most minute of details and our the Commercial Real Estate attorneys and professional support staff at Wright McLeod offer attention to detail refined by years of experience in commercial real estate closings.