Commercial Real Estate contracts are a crucial part of buying or selling property in business, but they are rife with potential stumbling blocks. It’s imperative that you understand every aspect of a contract before you sign it, as well as your legal rights and obligations. You need your rights protected, and closing costs kept to a minimum. By hiring a Commercial Real Estate Contract Attorney you can gain guidance and security over your businesses’ interests, with legal knowledge that protects you from the traps of complicated contracts.
Experienced Commercial Real Estate Contract Attorneys
A Division of Battaglia, Ross, Dicus & McQuaid, P.A.
Howard P. Ross and Andrew R. Pardun have over 50 years worth of successful experience working as Commercial Real Estate Attorneys in St Petersburg. As reputable attorneys, their expertise in the field can help you draft and negotiate a Commercial Real Estate contract, so that you can buy your dream home smoothly.
Ross and Pardun are attorneys at the law firm, Battaglia, Ross, Dicus & McQuaid, P.A. which for over 60 years has been providing outstanding legal assistance to St. Petersburg. Battaglia Ross Dicus & McQuaid, P.A. is ranked by US News and World Reports as a Tier 1 Law Firm.
Contact Us for Commercial Real Estate Contract Assistance
If you are considering purchasing or selling Commercial Real Estate in Florida, then contact us today for a free initial consultation so we can discuss your situation and help secure a deal that benefits you best.
What is a Real Estate Contract?
Real Estate contracts are legally binding agreements between buyers and sellers. They are commonly called ‘Purchase and Sale Agreements.’ The contract is made to define the terms and conditions of a transaction between two parties.
Drafting a Contract, or Lease
It’s important you remember that contracts are never “standard,” despite what the other party tells you. They all vary and have different permutations. Your contract needs to fit your company’s needs and circumstances. The best way to make sure you get a beneficial agreement is by hiring an experienced Commercial Real Estate Contract Attorney in St Petersburg.
A Commercial Contract process includes:
- Drafting – A well written and sound contract will be drafted, that protects your business’s rights and benefits its interests.
- Identification of the Parties – The contract will tie all the parties to the contract.
- Identification of the Real Estate – The contract will identify the property, including the legal description (made by an independent surveyor) and the address.
- Purchase Price – The contract will state the purchase price of the property.
- Closing Date – A date for when the title will be transferred and money will be exchanged.
- Signatures – Every contract must be signed by all the involved parties for it to be enforceable.
Letter of Intent
When purchasing Commercial real estate, creating a ‘Letter of Intent’ is a wise idea; it will be used a reference for all the major areas of the deal. It will document the essential terms and conditions before any contract is signed. Once the priorities are clear between both parties, the transaction can move along smoothly. The letter can also be referred back to during negotiations to resolve any disputes.
A Commercial Real Estate lawyer can help you write a letter of intent, which we’ve seen sway negotiations through time and time again.
Minimize Closing Costs
Closing costs are the fees paid at the end of the transaction. There are various fees such as recording and appraisal fees. It is helpful to remember that although you may be told there is a “standard” closing cost, you may be able to negotiate a lower price with the help of a contract lawyer.
Why Do You Need a Commercial Real Estate Contract Attorney?
- A clear, well-constructed agreement will allow the deal to move along swiftly without disputes.
- They’ll anticipate any problems or provisions you haven’t considered.
- You’ll avoid confusion and gaps in the details.
- They’ll prevent you from signing something that is against your interests.
- You’ll have a clear and thorough understanding of what you’re agreeing to.
- You’ll secure a deal that is best for you.
- You’ll minimize closing costs.
- You’ll comply with the federal and Florida state laws.
- Their legal expertise will allow them to ask the questions that make a successful deal.
Negotiating a Commercial Contract, or Lease
Don’t panic if your transaction has hit a disagreement. You can still negotiate without litigation. The best thing to do is contact a Commercial Real Estate Contract attorney, so they can review your options and enter negotiations on your behalf.
They’ll preserve business relationships while making a solution and seek to bring you the best outcome. Once an agreement is reached, your lawyer will be able to draft the new details and prepare the documents for signature.
Hire a Commercial Real Estate Contracts Attorney in St Petersburg, Florida
If you’re purchasing or selling Commercial Real Estate in St Petersburg, then contact lawyers Ross and Purdun at Battaglia, Ross, Dicus & McQuaid, P.A. Their highly rated experience can help you through the notorious contract phase so you can make that life-changing transaction your business has dreamt of.