Investing in any type of real estate, including commercial real estate, can be an important investment for an individual or a company. Unfortunately, there are a number of things that can go wrong when endeavoring into commercial real estate and commercial real estate transactions that it is important to be aware of. A number of factors can intervene during a commercial real estate transaction and present challenges.
It certainly can help, however, to know what to anticipate from a commercial real estate transaction and properly plan for a successful commercial real estate transaction in advance. If a problem or challenge arises during a commercial real estate transaction, there are different options available to meeting the different needs of the parties and the circumstances. At times, effective negotiation may lead to a positive outcome. During other times, effective real estate litigation may be necessary to resolve the challenge or dispute.
Litigation related to a commercial real estate transaction can arise in breach of contract situations; foreclosure situations; eviction situations; quiet title actions or circumstances perfecting a prior tax sale; construction defects situations or problems during the construction process; and in some other types of circumstances.
When approaching a commercial real estate transaction, it is important for individuals and businesses to protect their interests and to plan ahead to help prepare for a smooth transaction. While it is important to understand the commercial real estate process and to know what to do to help avoid potential problems, it is also important to understand the legal options available to help ensure a successful commercial real estate transaction should problems arise.