Commercial real estate and residential real estate are significant investments which is why it is important for purchasers and sellers to be familiar with the legal protections necessary to protect their investment. Different factors can lead to real estate litigation so it is essential to know how to protect the investment that is being made.
Different resources are available when a commercial real estate transaction does not go as planned. The upending of a transaction an be costly in a variety of ways. Some of these resources are legal resources, such as litigation, while others are resources that can include negotiation, among others. Which resources to use depend on the circumstances and the goals of the party facing the real estate, contract or other type of dispute.
Issues that come up related to commercial real estate can include a breach of contract; general real estate litigation; the need to initiate a quite title action; perfecting or confirming a prior tax sale; foreclosure on behalf of a creditor; construction defects; problems during construction that lead to disputes between builders and home purchasers; or evictions when a business or residential lease has been breached.
To protect from problems down the road, it is useful to be familiar with ways to draft, negotiate and execute purchase agreements and other contracts to protect the interests of the parties. Addressing concerns early on, and being proactive when a dispute arises, are essential steps to take. Legal resources can help guide parties through the commercial real estate process to help ensure a positive outcome.