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Should I Buy or Lease a Space? Consider these X-Factors!
| April 29, 2015
It’s the burning question on the mind of many entrepreneurs – should I buy or lease a building for my business? Trulia recently ranked the top 10 U.S. cities where buying currently makes more financial sense than renting, and 9 of the top 10 were in the Midwest. The survey focused on residential property, but […]
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Defaulted on Your Mortgage? – What Commercial Property Owners Should Know
| December 9, 2014
While many businesses are slowly recovering from the U.S. economic downtown, attorneys continue to see business owners on the receiving end of default notices from their mortgage lenders. In addition to the fears associated with getting current on mortgage payments, many owners are uncertain about the processes involved in the event foreclosure occurs or what […]
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Key Players in a Commercial Real Estate Transaction
| November 4, 2014
Once you decide to buy commercial real estate, it’s important to assemble a solid team who can provide you with the knowledge and experience needed to help make a smooth transaction. For a successful purchase, a tentative buyer should find a broker, attorney, accountant and loan officer they trust and can work well with from […]
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What Happens to Unfinished Commercial Real Estate Properties?
| July 18, 2014
Let’s time travel back to 1999 when the technology market was soaring high. Company A hits the jackpot with a dot-com boom and suddenly realizes, “we need more space!” So, Company A purchases a 100-acre property and begins construction with plans to grow the company ten fold. We know how this story ends. When the […]
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5 Questions to Ask a Real Estate Lawyer Before Renting Your Vacation Property, Cabin or Lake Home
| July 14, 2014
With July off to a pleasant start and our Independence Day celebrations behind us, it’s officially “mid-summer”. But, there is still time to consider renting or leasing your lakeshore property or cabin. And, with sites like VRBO.com (Vacation Rentals By Owner), HomeAway.com and even other vacation rental options like Craigslist – it is getting easier […]
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The Purchase Agreement: Part III
| May 30, 2014
Previously we took a look at the due diligence process of a commercial real estate transaction. In this edition, let’s discuss what a Buyer needs to know about contingencies. In a typical CRE deal, there are various standard contingencies that work to benefit Buyers (provided that a Buyer is savvy enough to include such contingencies […]
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Sellers and Buyers: Competing Interests
| May 9, 2014
Whenever assets constituting a functioning enterprise are transferred in a taxable transaction, Section 1060 of the Internal Revenue Code requires the seller and buyer to allocate the purchase price among the transferred assets. Treasury Regulations require sellers and buyers to allocate the purchase price to and among seven classes of assets according to the relative […]
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Letters of Intent: How They Go Awry
| April 18, 2014
As a deal lawyer, I love getting the phone call from a client about a new transaction. My heart sinks, however, when the client happily tells me how simple it will be because they have signed a letter of intent—without a lawyer reviewing it. A letter of intent (“LOI”) is not necessarily a bad thing, […]
READ POST >The Purchase Agreement: Part II
| March 19, 2014
Previously, we discussed key purchase agreement provisions and concepts, including purchase price, earnest money and payments terms. In this edition, we’ll take a closer look at the due diligence process. Here is what you need to know: During the due diligence process, the Buyer will inspect and investigate the property to determine if the contingencies […]
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The Purchase Agreement: Part I
| March 1, 2014
Previously we discussed the importance of assembling a team of Key Players as a first step to any commercial real estate transaction. Once your team is assembled and discovered a suitable property, the next step is to draft and negotiate a purchase agreement that encapsulates the deal and protects your interest. A well-drafted purchase agreement […]
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