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commercial real estate

What to Consider Before Purchasing Commercial Real Estate

If you are a commercial investor, commercial property owner expanding your footprint or you are branching out of the residential real estate market and into the commercial arena, then there are specific issues that need to be taken into consideration that is unique to commercial real estate transactions in the State of Florida. First and foremost, one of the most prudent decisions you can make is to enlist the advice and services of an experienced real estate attorney familiar with the rules and regulations governing commercial transactions. These types of real estate transactions can be quite complex especially if you do not own commercial property or have never been involved in its purchase before. At Heekin Law, P.A. we specialize in commercial real estate transaction and litigation services. Our lead commercial attorneys Geoff Heekin and Ariel Spires have over 40 years of shared legal experience and are extremely knowledgeable in all aspects of business, construction, and real estate law. Before making any commercial purchases seek out their knowledge and counsel to prevent any complications from taking place during the real estate transaction. Below are some unique considerations that must be addressed before making a final offer on any commercial real estate purchases.

  1. Zoning and Land Use Laws in Florida

Not to get too complicated but zoning restrictions are one of the most important considerations when purchasing land for commercial enterprise. These zoning rules depend on the type of business that will occupy the commercial space. If one purchases property that is not properly zoned for the type of business that will occupy the space this will lead to numerous legal ramifications. An experienced commercial and real estate law attorney in Jacksonville fl can advise you on land use and zoning ordinances and restrictions.

2. Commercial Inspection

As with any real estate purchase, land, building, even neighborhood environmental assessment, it is important to hire a certified home or commercial building inspector to conduct a thorough inspection of the premises to ensure that the physical elements and mechanical systems are fully operational and up to codes and standards. Additional considerations need to be assessed for commercial property such as compliance with the Americans with Disabilities Act (ADA) requirements and even wind mitigations and indoor air quality. Many elements of an existing building might need to re-qualified for insurance purposes and if new building permits are required, renovations performed on new upgrades need to adhere to current building codes.

3. Title and the Issuance of Title Insurance

Again, as with any real estate purchase, it is important to ensure that the title or deed to a property is free and clear. It is important to perform a title search and a municipal lien search when acquiring a commercial property. Deeds do not reveal any liens that might have been placed on the property and the lawyers at Heekin Law, P.A. can assist you in determining if any open liens exist. Without a clear title, a buyer will not be able to obtain title insurance protection. These actions can validate if any third-party actions might pose a claim against the title.

Why Choose Heekin Law, P.A.

Most commercial real estate transactions represent a substantial financial commitment. Making proper and informed decisions about a commercial property purchase, which can involve multiple issues including land use laws, zoning and municipal ordinances is something the attorneys at Heekin Law, P.A. are extremely knowledgeable and experienced in. Our legal practice is well-versed in all aspects of business law, construction law, HOA and COA governance, and real estate law for commercial entities. Give us a call today at 904-355-7000 for a free, no-obligation consultation to discuss your next real estate purchase.  Being legally informed is both a productive and proactive measure that can help a business owner significantly reduce the chance of incurring hardships.      

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