Business should work with lawyer when buying or leasing property
12/16/2015 | Real Estate Blog
Readers are likely aware that there are many ways in which a lawyer can be of assistance to a business. One thing they can help with is deciding where the business will be located. This is true regardless of the type of business or whether it seeks to lease or purchase property. In this post we will focus on some of the specific tasks an attorney can help with.
The first is simply determining whether to lease or buy property. Since this decision could have an impact on the future of the business, it is important to make an educated decision regarding the matter. Based on the goals of the business—both in the short and long-term—a lawyer can help determine which approach is better.
In the hunt for real estate most buyers work with a real estate agent. A contract is used to establish a relationship between the parties. A lawyer can look over the document and make sure the restrictions are not too rigid. If a business decides to buy the real estate, a purchase agreement will be necessary. A lawyer can look at that agreement and provide input on:
- Environmental concerns
- Assessments against the property
- Zoning regulations
- Local codes
When improvements need to be made to a building, a lawyer can make sure they comply with the ADA.
When a business opts to lease instead, the lease should be reviewed by an attorney. In this situation it may be necessary to negotiate certain aspects of the lease and include additional clauses. A lawyer can help with both of these matters as well.
The failure to work with a lawyer, when purchasing or leasing real estate, could result in restrictions that make it difficult for the business to operate, and lead to financial loss. Taking steps to make sure this doesn’t happen could greatly contribute to the health of a business.