Tips for Buying Commercial Real Estate

Commercial Real EstateOwning commercial real estate can be a very rewarding experience but purchasing it can be a challenge.  Some people may be hesitant to make the investment because they think it will be too complicated.  But by doing some preliminary research and having the right experts helping you, anyone can enjoy the benefits that commercial real estate can offer.

Know What You Are Looking For

You must ask yourself a lot of questions up front in order to determine how to start.  What can you afford in terms of down payment, repairs and financing?  What purpose will the property serve?  How much work do you want to put in to the property?  These and many other questions will help you determine the right property to look for.

Be Sure to Look at Many Different Properties

It is never wise to settle for the first property you visit.  Tour many different places so you can compare the features of each.  Decide what is most important to you and always consider the location of the property as one of the most important factors.  Your final choice should be what fits best with your specific situation and needs.  Churchill, Quinn, Richtman & Hamilton’s attorneys have experience in transactions involving office buildings, retail centers, warehouses, and apartment and condo properties so we can help with whatever you decide on.

Choose Experts to Help

Whatever the property, the process can be quite complex so the right experts can make all the difference for a smooth transaction.  A commercial real estate agent, mortgage broker and accountant will all most likely be needed to provide assistance.

One of the most valuable experts you need to hire is an attorney, and Churchill, Quinn, Richtman & Hamilton has extensive experience to guide you through all steps of the process.  From negotiating and drafting a contract to performing due diligence, all the way through the details of closing the deal and transferring funds, we will ensure you know exactly what your rights and obligations are.

Contact us at 847-223-1500 or visit grayslakelaw.com for more information about our attorneys and practice areas.

 

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