In many cases, people get involved in commercial real estate for the first time without considering a lawyer. They assume anything they need can be Googled and that there is not immediate and practical use for a lawyer. However, a real estate lawyer can be the best protection from a slew of legal complications that easily arise when dealing with commercial real estate. These include, but are not limited to:

  • Liability for independent contractors
  • Homeowner Association disputes
  • Poorly constructed legal forms
  • Dishonest legal forms, or deceptive small print
  • Failure to disclose statements and related discrepancies
  • Illegal financial solicitation

There is no way to have no legal risk when getting into real estate, but understanding the regular issues and knowing the deceptive language that often takes place is a huge leg up. Even with a lawyer on your side, it is important to be prudent when getting into this type of business.

Cost Benefits

It is always better to avoid litigation, as it is expensive even when you are successful and takes time away from business. If you find yourself in a situation where litigation is on the horizon, it is important to look at the potential costs and consider which is the best route. A common example is renting a property. If a tenant breaks a lease and owes you money, it will often cost as much as they owe if not more to pursue the money. In that case, the cost benefits are much higher to let the back rent go.

Proper Due Diligence

Again, avoiding issues is always the best course of action. If you are a landlord, it is important to screen your tenants and ensure they have a cosigner or other guarantor when they do not meet your standards. Similarly, as a tenant, it is important to do proper research on a potential landlord as to avoid scams or someone who lets the property go to the wayside.

Arbitration Over Litigation

When possible, arbitration is a quicker and easier way to find a middle ground for everyone involved. Even further, most judges have little experience in the complicated world of commercial real estate law. This can lead to less time legally tied up and more time focused on your business.

If you are having real estate law issues, contact us today to get a seasoned legal team on your side.

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