Buying a home is one of life’s biggest decisions. The right one can set the stage for a happy future while the wrong one can lead to heartache and years of legal problems. The same holds true for commercial real estate leases and purchases, as the wrong headquarters or location for retail or service businesses can spell the end of a venture.
South Florida is a hot market for real estate of all kinds, and that seems to be true for the near future as well. Major real estate transactions in the Sunshine State can regularly exceed $1 million, and thousands of companies choose Miami or Orlando for their operations.
Regardless of the type of real estate transaction, they all require the same due diligence by sellers and buyers alike. When the process starts with a handshake or a letter of interest, the first big responsibility is to identify all the players for the record. This includes the person or entity who is buying as well as selling, and the attorneys or brokers representing them.
Lenders and insurers who are making the sale possible should be listed so all details can be verified during the sale process. Sellers should always insist on an appraisal, a home inspection or other form of required inspection that may apply to specific properties like restaurants with liquor licenses.
Attorneys are often an integral part of the real estate transaction process. A lawyer can help ensure these requirements and others are met on behalf of a buyer or seller during the weeks between an accepted offer and a legal transfer of property.