Commercial Real Estate Lawyers

Due diligence is a vital process that should not be overlooked when buying or selling commercial real estate property. It involves a comprehensive review of all aspects of the property, including legal, financial, and physical conditions. The due diligence process can help to identify any issues or potential risks that may impact the property’s value or hinder the transaction. This process should be conducted by professionals with experience in real estate transactions to avoid any potential problems in the future.

Zoning regulations determine how a property can be used, setback requirements, requirements for lot size and frontages and size and height of the dwelling. It is important to ensure that the property is zoned for the intended use and is in compliance with local zoning laws and regulations or you will meet costly consequences. Municipality zoning checks are made for a fee, yet proper zoning by-law definitely ensures your future safety.

Fire safety is crucial when it comes to commercial real estate property. A fire can cause significant damage, and it is important to ensure that the property is up to code and meets all safety standards. The fire check should include an assessment of the property’s fire protection systems, such as sprinklers and alarms, as well as a review of fire escape routes and emergency plans.

To complete a fire check, a Fire Marshal, an assistant to a Fire Marshal or a fire chief should enter and inspect the property. All measures to ensure fire safety on the property posed by the Inspector (Fire Marshal) should be done forthwith, as it is stated in the Fire Protection and Prevention Act.

Title insurance is a type of insurance that protects against any defects or issues with the property’s title. It is important to obtain title insurance to protect against any claims or liens that may arise after the transaction is complete. The title insurance policy can provide coverage for legal fees, court costs, and any damages awarded as a result of a covered claim.

Proper title, insurance and other checks can help to ensure that the property’s ownership is clear and free of any claims or liens. This can provide peace of mind for buyers and protect against potential legal issues in the future. It is important to work with a qualified real estate company, such as De Krupe Law to conduct these checks and obtain title insurance.

It is important to ensure that all necessary permits have been obtained for your commercial real estate property. A permit check should be conducted to ensure that all work done on the property has been permitted and completed to the building code. This can help to avoid legal issues and fines in the future.

Taxes can be a significant expense for commercial real estate property owners, and it is important to ensure that all taxes have been paid and are up to date. A tax check ensures that there are no outstanding tax liens or delinquent taxes owed. This can help to avoid legal issues and potential foreclosure.

A title search is a review of public records to determine the ownership and any claims or liens on the property. It can help to identify any issues with the property’s ownership, such as conflicting claims, liens, or judgments. It is important to ensure that the title is clear before completing the transaction to avoid potential legal issues in the future.

Utilities are an essential part of any commercial property, and it is important to ensure that all utilities are in good working order. A utility check should include a review of the property’s electrical, plumbing, and HVAC systems. Any issues should be addressed before the property is sold or purchased.