Dealing in commercial real estate can be a lucrative endeavor, but a chunk of your profits could be lost if you do not have the right clauses in your purchase agreement. The following is a brief overview of certain clauses you will want to have in your purchase...
Real Estate Transactions
Commercial real estate transactions: The letter of intent
Every purchase and sale of commercial property must be handled carefully. From the initial due diligence to the finalization of an agreement, oversights and miscommunications can create an unwanted opportunity for litigation. Letters of intent can be useful but, if...
Understanding title insurance
When a piece of real estate is sold, buyers want to be certain that the legal ownership is properly transferred and that they hold valid legal title to the parcel. If a loan was used to finance the purchase, the party who loaned the money wants to be certain that the...
How is commercial property lost through adverse possession?
The concept of adverse possession isn’t one that comes up much outside of a law school classroom. That is, until you find yourself on the wrong end of an adverse possession claim. Since litigation is something you want to avoid, it’s helpful to have a basic...
Drafting a purchase agreement for commercial property
Commercial property in Arizona is generally used for business purposes and growing profits. Some examples of commercial property include: Office buildings Warehouses Retail stores Hotels Multi-family rentals Healthcare offices The purchase of a commercial property is...
When can a quiet title action be used?
When you buy a property in Arizona it’s a major milestone and an exciting time. However, this moment can quickly become stressful if another party is making claims to the same property. There is now a question that what you worked so hard to acquire may not be yours....
What to include in a purchase and sales agreement
A purchase and sales agreement is an important part of a commercial sales transaction. For that reason, the parties to the transaction should know how to negotiate and draft a purchase and sales agreement and what to include in one. There are several components of a...
Commercial property: Arizona disclosure requirements
Commercial real estate sales represent a significant transaction for both the buyer and the seller. The parties want a sale that’s negotiated in good faith, so they can trust that the decisions they make are good ones. Disclosure is an important part of that process,...
The basics of zoning laws
Zoning laws are used for planning and the development of cities and municipalities and can have a significant impact on the use of property and may also impact the value of property. For that reason, it is useful for property owners to be familiar with what zoning...
What is the right of first refusal in a commercial lease?
When a landlord and tenant enter into a lease agreement in Arizona, the lease will typically cover many issues including duration, rent, maintenance, and insurance. With many commercial real estate leases lasting anywhere from three to five years, there is a strong...