Articles Posted in COMMERCIAL REAL ESTATE

In my Atlanta, Georgia Commercial Real Estate law practice, I help clients with all types of Atlanta, Georgia real estate transactions, disputes, and litigation. While some consider only consulting with a lawyer when problems occur, an experienced Georgia commercial real estate lawyer will work with his clients to prevent problems from occurring. Commercial real estate brokers and lawyers provide valuable services to anyone buying or selling commercial real estate. In fact, it is even more imperative to protect yourself in the current tumultuous and fragile real estate environment.

When selling and/or purchasing commercial property it is a good idea to work with both a commercial real estate broker and a commercial real estate lawyer. Real estate brokers help clients find properties and will negotiate the terms of the purchase agreement. A good commercial property broker has a wealth of knowledge about the market and will network with other brokers to gather information that will ultimately benefit the client. Real estate brokers also have contacts in related fields, such as mortgage brokers, and property inspectors.

Atlanta, Georgia Commercial real estate lawyers can help commercial property investors because they are qualified to dispense legal advice and will protect the client from costly mistakes. As an expert in real estate law, I know an our Georgia real estate attorneys will draft effective legal documents to represent and protect their both in and of court. An experienced Atlanta, Georgia commercial real estate lawyer can handle a wide variety of real estate issues, such as construction defects, land use and zoning and contract disputes. Moreover, at the end of the day, an Atlanta commercial real estate lawyer has no qualms about killing a deal, which does not serve his client’s bests interests. This is inherent because commercial real estate lawyers are usually paid hourly, and not only if the deal goes through. This is oftentimes the case with commercial real estate brokers and I fear there have been times when they have looked the other way to ensure the deal goes through, and thus payment of their commission is ensured.
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“Due Diligence,” is an expansive term used in commercial real estate. This term is commonly used to refer to the process of examination, inspection, and investigation of real property to determine the suitability of the property for a certain transaction before a purchaser consummates the purchase of the property. The term “Due Diligence” is also used in business transactions to refer to the process of examination, inspection, and investigation of a business entity before an acquisition, merger, buy-out, loan, or other transaction takes place.

In almost all Georgia Commercial lease agreements and other commercial real estate transactions, due diligence should be unconditionally carried out before any agreement is entered into. Commercial transactions are usually complex and frequently cause problems when the parties involved fail to seek legal counsel to help them understand and guide them through the Georgia real estate transaction process. One reason for the complexity is that some real estate terms are not commonly understood by people outside of the industry and can carry significant legal consequences. Some of these terms include “subordination,” “triple net lease,” “tenant improvement allowance,” “estoppel certificates”, “demised area”, “CAM charges”, “base rent”, “escalation,” and/or “rise” An Atlanta, Georgia Real Estate Lease Attorney understands and uses these terms and can ensure that their client’s needs are met. In addition to terminology, there are many other factors that complicate real estate transactions but that need to be negotiated, like parking space allotment, signage restrictions, exclusivity provisions, and/or insurance requirements.

Because of the complex nature of commercial real estate leases and contracts, without thorough investigation and due diligence, a lessee or buyer can be bound by a contract that does not fully serve their needs or inhibits their business venture. Sometimes the terms of these agreements span several years, many decades, or are final. Thus, proper review, negotiation and preparation of contracts and agreements is critical. Additionally, most lease agreements or property purchases add value to a Georgia business entity as either an asset or a liability, so careful consideration is required during the due diligence period.

In my Atlanta, Georgia Real Estate Law Firm, I have seen many clients come to me regarding Georgia real estate transactions only after issues have already surfaced. It is much more efficient and cost effective to seek legal counsel before signing any real estate agreement. The trouble and money saved by putting in the proper due diligence up front is worth the nominal expense. As a lessee, it is important to keep in mind that commercial landlords will always present lease contracts that promote their own best interests. As a result, it is imperative to have your own Georgia attorney review all commercial real estate contracts and make the appropriate modifications in favor of your interests. The same is true for the seller’s of commercial real estate, and the same extreme caution must be taken to protect the buyer’s interests.
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Our Atlanta, Georgia, mortgage loan modification lawyers know that if you are among one of the tens of thousands of Georgia homeowner’s facing an Atlanta foreclosure it is imperative you contact an experienced Atlanta foreclosure attorney immediately and at the first sign of mortgage troubles – before it is too late.

Contacting a highly knowledgeable foreclosure attorney when you first start having trouble paying your mortgage can prevent or stop the foreclosure process altogether. Early contact is one of the most important steps you can take to save your home from foreclosure, sale, and the loss of your home.

The Atlanta Journal-Constitution reports that Georgia mortgage-holders now have the 5th highest delinquency rate in the nation according to TransUnion. Moreover, the Georgia foreclosure process is very fast. Georgia permits both judicial and “power of sale” foreclosures. In Georgia, the “power of sale” refers to a clause in most mortgages allowing the lender the right to sell the property outside the court system. This means your lender can schedule the sale of your home as soon as you are in default – and does not have take you to court. You may be able to stop the foreclosure by paying off your delinquency, but your lender is not required to reinstate the mortgage.Having an experienced Atlanta, Georgia, loan modification attorney involved at the start – before you receive a notice of default – is crucial for several different reasons.

In my practice as a commercial real estate lease lawyer, I have found the majority business owners will have to deal with the reality of entering into a Georgia commercial lease agreement at some point in during the course doing business. Commercial leases can be lengthy, complicated, convoluted, and practically impossible for even the most sophisticated businessperson to understand. They may utilize industry standard terms such as “triple net lease”, “Subordination”, “Estoppel Certificates”, “Tenant Improvement Allowance”, all of which have legal significance and significant legal implications. There are also always practical issues such as parking, signage and business hours, indemnification and insurance issues, which seem to look harmless in the lease, but may have widespread significant and destructive consequences to the business tenant and even the landlord if not thought through and considered during the due diligence period. The due diligence period is the period in which the parties to a contract, agreement or other business matter are negotiate, research, investigate and consider all issues which can be thought of before any business transaction should take place. During this due diligence period, all commercial leases should be carefully reviewed and scrutinized by an experienced Georgia lease attorney from a Georgia real estate contract law firm. This should be done prior to signing and by both the property owner, prospective tenant and any other party to the contract or agreement.

Remember that once you or your authorized representative signs a commercial lease, you will be bound by its terms. It is common for commercial leases to bind parties for many years on end or even decades or more. There are oftentimes options for additional terms in the lease or agreement that can be exercised and should be carefully thought through. That being the case, a commercial lease can be worth hundreds or thousands of dollars or more, and as such, may be a substantial asset or a liability to any business depending on your position.

There are many working parts in a commercial lease. Often times, many of these parts are negotiable and it is customary and wise to have an experienced Georgia real estate contract attorney to protect your business and personal interests. As such, each of these elements should be understood and considered when negotiating and/or entering into a lease and prior to signing. If you have concerns or fail to address them, you are likely setting yourself up for prospective trouble in the future. As you would expect, commercial landlords usually have ready and offer the initial Georgia real estate agreement to the prospective tenant. They have already paid their experienced GA real estate contracts attorney to draft these agreements in their best interests and with all terms most favorable to their interests. Both landlords and prospective tenants need someone in their corner to protect their best interests when proposing and entering into these specialized real estate contract agreements in Georgia.
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