Why You Need A Lawyer When Leasing or Purchasing A Commercial Property

Posted by on Aug 1, 2017 in Blog, Commercial Law, Real Estate Law

renting-leasing-commercial-propertyBuying or leasing a commercial property is a large investment that comes with many intricacies and complexities. While it is possible to purchase or lease a property on your own, you run the risk of missing important details that could have less than ideal consequences later on. Read on to learn how consulting a real estate lawyer before your next corporate real estate move can help grow and protect your business.

Purchasing A Commercial Property

The purchase of a commercial property can be a time consuming, and hard to navigate process. A real estate lawyer can be helpful in a couple of ways:

The Fine Print

Corporate ownership, leaseholds, tenant claims, environmental issues – these are just a few of the common issues that pop up when purchasing a commercial property. Reduce your risk (and stress) by having an experienced real estate lawyer handle all of these issues and more.

Negotiations

Purchasing a commercial property is no small investment. Make sure you’re getting the best price possible by enlisting the help of a real estate lawyer. By using a third party negotiator, you remove the emotional aspect (which can sometimes cloud judgement and impair your ability to make a sound decision).

Leasing A Commercial Property

While the process of leasing a commercial property is different from purchasing, it can be equally as confusing! There are many aspects of commercial leasing that you as a tenant should be aware of before signing on the dotted line. Seeking the advice of a real estate lawyer can help ensure that you’re getting the right building at the right price.

How A Real Estate Lawyer Can Help

  • Negotiations
  • Understanding and explaining terminology
  • Finding any idiosyncrasies that may have an undesirable effect
  • Checking and verifying contract terms

Sometimes, a second set of eyes reveals things you didn’t even know were there. Having a real estate lawyer look over your next commercial lease or purchase will ensure that your needs are being met and that there are no surprises down the road. If you’re looking for a real estate lawyer in Edmonton, contact the team at Heritage Law today!