Real estate transactions can have a beneficial impact on purchasers, sellers and the local community.
A Baton Rouge mortgage broker recently purchased a local office building in an office plaza for just over $900,000. The purchaser of the 5,475 square-foot building had been a tenant in the building for a few years. The representative for the office plaza in the sale noted that the mortgage banker purchased the building as an investment. The mortgage broker purchaser will continue in the 3,400 square feet it currently occupies. It will also assume the role of landlord for the building's other tenant, an insurance company.
The purchase of real estate is an important transaction for an individual or a business. There are many aspects to commercial real estate transactions that should be considered when contemplating one. The process can have multiple phases and several different steps. These can include contract negotiations, drafting a purchase agreement and the closing. Sales and purchases can also sometimes lead to disputes.
The real estate market offers many opportunities. With careful consideration, disputes between owners and purchasers can be avoided or resolved. Many times, when drafting a purchase agreement or engaging in contract negotiations, appropriate guidance can either avoid a dispute or help ensure one is not likely to develop down the road.
A trained real estate attorney can listen to the needs and goals of either a buyer or seller to shoot for the best possible outcome for the real estate transaction. The needs and goals of both the buyer and seller can help guide the transaction to a successful outcome.
Source: The Advocate, "Assurance Financial buys building," Timothy Boone, Feb. 3, 2014