Florida Commercial Real Estate Sale and Purchase

St. Petersburg real estate lawyer James W. Martin, P.A. offers expert legal services in the arena of Commercial Real Estate, including retail, office, and industrial real estate law in Florida, especially when it involves Florida wills, trusts and probate estates. He navigates the intricate legal landscape related to commercial real estate transactions to effectively protect the interests of his clients.

Being one of just seven St. Petersburg real estate attorneys who are Board Certified in Real Estate Law by The Florida Bar Board of Legal Specialization and Education, he possesses a deep understanding of commercial real estate laws and demonstrates a commitment to helping his clients succeed in their real estate sale and purchase endeavors. He also teaches contract drafting as an Adjunct Professor of Law at Stetson University College of Law, and wrote the legal forms books Florida Real Estate Sales Contracts and Florida Real Estate Lease Agreements.

Whether you are buying, selling, developing or leasing commercial property, he works tirelessly to provide insightful and sound legal advice. Your commercial real estate ambitions deserve the highest standards. For further information about how we can collaborate toward your commercial real estate goals, please contact James W. Martin, P.A. at (727) 821-0904 or jim@jamesmartinpa.com .

Purchase and Sale Agreements for Commercial Real Estate

Commercial real estate transactions often kick off with a letter of intent. This document marks the starting point of a purchase, outlining the fundamentals of the impending agreement between a willing buyer and seller. Subsequently, a more concrete purchase and sale agreement is signed by both parties. This agreement, crucial for the protection of both parties involved, contains several crucial elements:

• Parties: This part ensures identification of the buyer and seller participating in the transaction.
• Property description: The details of the property in question are specified here, including its physical location and legal description.
• Price: This section states the total agreed-upon price for the property. Payment terms can also be included here.
• Closing date: This is the date at which the property officially changes ownership.
• Survey provisions: These spell out the obligations of each party surrounding the surveying of the property.
• Due diligence: Here, the timeline and obligations for a buyer to conduct inspections, search for issues, and generally verify the accuracy of the seller’s claims are established.
• Representations and warranties: In this section, both parties make statements about the property and their legal status.
• Title insurance and conveyance: This section defines the type of title insurance and deed to be used at closing.
• Closing conditions: The requirements to be met by either party before the closing can take place are outlined here.
• Allocation of costs: Agreement about how the costs associated with the transaction will be split are shared within this part.
• Termination and default: Lastly, this section dictates the circumstances that allow either party to end the agreement, plus the repercussions. In cases where either buyer or seller breaches the agreement, legal consequences may ensue, up to and including monetary damages, cancelling the sale, or specific performance. The specifics will depend on the details of the signed agreement and the laws of Florida.

Due Diligence in Commercial Real Estate Transactions

This multi-dimensional step is provided to see if the property in question meets the buyer’s expectations and safeguards against potential complexities or risks. During due diligence, thorough inspections and detailed audits of property are conducted. Accurate evaluations are made that might include structural assessments, compliance checks with environmental laws, as well as investigations into financial matters like tax records and projected revenue.

In certain instances, the due diligence process unveils issues that may need resolution before the sale gets finalized. When such matters arise, we can hold discussions and negotiate remedial actions between the buyer and seller. The buyer might negotiate a decrease in the purchase price reflecting the cost of remedying the issues, ask the seller to rectify the problem before completion of the sale, or, in some cases, even decide to withdraw from the transaction altogether. Harnessing deep understanding of commercial real estate laws, real estate lawyer James W. Martin offers robust representation to his clients for an accurate, efficient, and successful due diligence process. He takes pride in offering comprehensive, fully-informed legal representation that meets the unique needs of each client’s situation. Let him guide you through these complex transactions with confidence and assured peace of mind.

Expert Legal Assistance With Your Commercial Real Estate Needs

From property acquisitions and leases to land use disputes, every step in commercial real estate operations can present legal challenges that require formidable representation. Facing these issues head-on and with the utmost preparedness is crucial in maintaining the integrity and profitability of a business venture. James W. Martin, P.A. provide his clients a solid backbone of legal support, educating them on their options, rights, and possible ramifications before they make any crucial decisions. Whether you are a seasoned real estate owner or an entrepreneur just entering the industry, you need to be legally prepared every step of the way. With integrity, diligence, and commitment, St. Petersburg real estate attorney James W. Martin handles each matter with the attention to detail and forward-thinking approach that it deserves. For legal services tailored to your unique commercial real estate needs, reach out to James W. Martin, P.A. at (727) 821-0904 or jim@jamesmartinpa.com .

Contact

If you have the need for a Florida Board Certified Real Estate Attorney, you may use the contact form below or call James W. Martin directly at 727-821-0904 or email him at jim@jamesmartinpa.com for a free initial consultation.

This page was last updated September 15, 2024.