Real Estate purchases and sales can be divided into two broad categories: commercial and residential. Residential Real Estate law involves those matters associated with a piece of real property that is the residence of the homeowner. Commercial Real Estate law deals with real property in a business setting, and includes most events surrounding the sale of real property as part of the sale of a business, leasing of office space, owning apartment complexes and/or rental properties that are being used for business or income-producing purposes. Commercial Real Estate law also includes industrial and agricultural property.
Commercial transactions are usually inherently more complex that residential transactions, and generally involve greater risk and potential liability. The disclosures required between buyer and seller differ, and the common issues, like title, liens, zoning, hazardous waste and environmental contamination, and the involvement of government agencies are more complex in the commercial setting. Negotiations and escrows tend to take longer, and there are always tax ramifications to the buyer as well as the seller. Lending practices and loan documents differ depending on the situation at hand as well as the requirements of the lender.
Davis Miles McGuire Gardner has attorneys well versed in both commercial and residential real estate matters, including drafting of purchase and sale agreements with disclosure items that are mandated or should, through prudence, be exchanged; tax planning whether you are the buyer or the seller; title defects; mechanics liens, zoning and land use issues; foreclosures; and real estate financing and negotiations with lenders, both private and commercial. Real estate exchanges are complex matters and should be entered into with great care, careful planning, and expert legal and tax advice. Call for an appointment with an attorney who can draft your documents for you or review and comment on the documents you already have.