The success of a commercial real estate transaction or other real estate transaction can depend on a variety of legal or other considerations. As a result, when contemplating a commercial real estate transaction or other real estate transaction it is helpful to be familiar with the moving parts and legal protections.
A successful transaction is the goal for any commercial real estate transaction or other real estate transaction and understanding the basics of the that process can help. Depending on the nature of the situation, and the goals for the outcome, it may be beneficial to negotiate with the other party or it may be necessary to litigate the dispute. It is important to be armed and prepared for both scenarios to preserve the success of the transaction.
Issues that can arise include breach of contract or contract disputes; problems with construction and construction defects concerns generally; general real estate litigation; actions to quiet title; foreclosure actions on behalf of the creditor; perfecting or confirming a prior tax sale; and evictions associated with nonpayment of a lease. These concerns can impact developers, lease holders and landlords, contractors and those purchasing commercial real estate.
Commercial real estate concerns can be disruptive when the goal is to complete a successful and smooth transaction which is why it is important to understand how to trouble shoot concerns as they arise and also how to proactively protect important interests. Comprehensive contract drafting, as one example, is only one of many that can help parties navigate the complexities of a commercial real estate transaction to a successful outcome. It is worth understanding all components of a successful commercial real estate transaction.