Buying or selling a commercial property can help any business person to achieve their goals. However, sometimes it’s hard to arrive at a price that is ideal for both parties.
This is where a commercial real estate lawyer can provide assistance. From negotiating the price to closing the transaction, they can be there with you. These lawyers ensure that every step taken is compliant with the law in California.
Attorneys at Stonesalluslaw.com can help you to negotiate any commercial property purchase. If you’re interested in studying your property, they can also help you to get a good price for it.
In addition to helping you negotiate a good price, real estate lawyers will also explain the purchase agreement to you. They will examine the contract carefully and ensure that it covers all eventualities. They also assist with the final closing while checking that the terms of the agreements have been met.
Understanding What You Need
Lawyers will discuss several aspects of your goals with you, in order to help you with your negotiation. For example, they need to know what square footage you have in mind and what zoning requirements will work best for you.
Remember that negotiation is not just about price. It’s also about ensuring that you arrive at terms which are suitable for both parties both now and in the years to come.
Meeting Your Budget
Real estate lawyers should be there with you from the beginning, so that you can decide on your negotiation strategy with them. If you call them in after you’ve already started negotiating with the other party it puts you in a weaker position.
For example, some people prefer to negotiate by starting low and then working their way up. Others feel that this is insulting to the other party and they prefer to start closer to the actual market value of the property. Your commercial real estate lawyer has experience and will help you to decide on a strategy that is best for your situation.
Before any negotiations begin, it’s important to discuss your budget with your attorney. Your lawyer will also consider the history of the property when they’re planning for your budget because they’ll need to know whether any repairs need to be done.
The price that you propose for the property may very well be your final price. You may not be interested in doing any repairs afterwards and if that is the case, it should be put in legal terms that any necessary work will need to be done by the seller before closing.