This blog recently discussed the exciting potential commercial real estate transactions can hold for expansion and growth. Commercial real estate transactions present exciting opportunities but it also pays for parties to the commercial real estate transaction to be sufficiently familiar with the process. A number of different factors can result in a real estate transaction ending up in a real estate litigation situation. To avoid an unwanted real estate litigation situation, it is important to understand the many aspects of a commercial real estate transaction up front.
There are several phases to a real estate transaction and being resolution, or problem-solving, oriented throughout those phases can be helpful. It can also be helpful to be intimately familiar with the tools available to help ensure a successful real estate transaction. Knowing how to approach the transaction, from the initial negotiations to drafting a sound contract, is important. In addition, when disputes arise, it is important to know how the parties are protected and whether negotiation and settlement or litigation will best serve their interests, needs and goals of the parties in the situation.
A number of challenges can be confronted associated with real estate transactions including breach of contract concerns; general real estate litigation; quiet title actions; concerns related to construction; construction defects situations; foreclosures situations; issues related to perfecting or confirming a prior tax sale; or evictions when lease obligations have not been met. Because of the number of concerns that can arise in any given real estate transaction, it is important to understand how to effectively navigate the process.
Parties to a real estate transaction should be familiar with how to avail themselves of the legal protections available to them. There are many options available to help parties handle the complexities of real estate transactions and to protect their interests throughout the process.