Real Estate Acquisitions
The Firm assists both buyers and sellers in real estate acquisition transactions. As with any sale transaction, from the seller's standpoint, the seller wants to make sure that he/she receives the consideration payable and does not get sued following the transaction. The buyer, on the other hand, wants to make sure that he/she is acquiring real property without any unknown problems.
One of the areas of greatest concern these days relates to hazardous materials being in, on, under or about the property. This problem can generally be taken care of through a Phase I and/or Phase II (and/or Phase III) environmental report. Such matters have become a standard part of any real estate transaction.
Depending on the nature of the property being purchased, other due diligence activities may be required as well, including review of leases, review of service contracts, and a detailed inspection of the property by a licensed contractor. Also, of course, the purchase agreement should contain adequate representations and warranties on the part of the seller.
The Firm also assists in financing transactions, including the review and negotiation of loan documents and the issuance, where needed, of legal opinion letters.
For assistance in such matters, please contact Ross Schwartz.