Commercial Real Estate Legal Services – Detroit
The Aidenbaum team offers a wide range of real estate legal services as well as practical business advice, with flexible fee arrangements that are highly cost competitive and cost effective.
These services include:
- Acquisitions, sales and other dispositions
- Financing and refinancing
- HUD and MSHDA insured loans
- Real estate syndication services (including offering memoranda and related subscription documents)
- Commercial (retail, office and industrial) leasing
- Zoning, land use and other regulatory matters
- Condominium documentation
- Property disputes
- Residential home sales, purchases and leases
- Mortgage debt workouts
Buying commercial real estate – what should go into my contract?
Since every real estate deal is different, you will need to get advice from Aidenbaum Schloff and Bloom PPLC on how best to protect your interests in the contract. Typically, however, your contract should address at least the following issues:
(1) An exact description of the property you are buying, including the land surrounding the building.
(2) The purchase price and whether it is all due at closing or in installments.
(3) A list of any equipment or personal property that is included in your purchase.
(4) Any contingencies that must be met before you are obligated to complete the purchase, for example, you can make the deal contingent on your ability to get a mortgage loan.
(5) How property taxes and utility bill will be pro-rated (allocated) between you and the seller.
(6) The type of title evidence or title insurance the seller must provide.
(7) The date for closing and delivery of possession.
(8) What legal recourse a party has if the other party defaults.
Contact Aidenbaum Schloff and Bloom PLLC for advice on specific provisions to meet your needs today.