Common real estate disputes in Florida – Part 3: How do you avoid trouble when buying or selling commercial real estate
Due diligence is critical in commercial real estate transactions
Because the concept of buyer beware applies to commercial real estate transactions in Florida, due diligence is crucial and rests on the shoulders of the buyer. The Law Office of David Steinfeld guides both buyers and sellers in structuring certain aspects of commercial real estate transactions. Depending on the property, due diligence may include reviews of rent rolls and the operation of a business or businesses on the property or it may focus more on the condition of the property itself.
Who should I use for due diligence
Helping the purchaser bring together a qualified team of professionals, such as accountants and property inspectors, is a value that the Law Office of David Steinfeld can bring to the proverbial team in addition to reviewing purchase and sale agreements. Florida law requires that real estate sales occur under written contracts, but unlike residential transactions that largely now use form documents approved by the Florida Board of Realtors known as FarBar contracts, such standard contracts are rare in commercial transactions.
Thus, having an expert business litigator like David Steinfeld who has experience litigating breaches of commercial real estate contracts is of great benefit to parties that intend to buy or sell commercial real estate in Florida.
About the Author
David Steinfeld is a Board Certified expert in Florida business law. He has been practicing for almost 25 years. He is rated AV-Preeminent, Best Lawyers in America-U.S. News & World Report, a Florida Super Lawyer, and Florida Legal Elite. Dave received Martindale’s prestigious Judicial Award for high reviews by Judges, its Platinum Client Champion Award and has a 10.0-Superb rating on AVVO and a 10.0 rating on Justia.
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