Real Estate Development and Land Use Lawyers

Airdo Werwas LLC's real estate development and land use practice group represents public, private, and nonprofit sector clients across the country in the full range of real estate development and land use matters.

Our attorneys have extensive experience across all levels of real estate transactions, including acquisition, development, financing, leasing, ownership, and sale. We assist with:

Zoning
Land use and development
Taxes
Property liens
Title insurance
Environmental compliance
Closing

Our experience ranges from acquiring small individual properties to complex commercial transactions and development projects involving multiple stakeholders.

We advise local governments in matters related to the regulation and use of land within their territorial boundaries, including:

Zoning and economic development
Annexation and disconnection
Eminent domain
Street dedication or vacation of streets and rights-of-way
Administration and enforcement of easement and other property rights
Permitting and compliance matters

We also advise developers, property owners, and businesses seeking zoning and development approval.

Contact our attorneys by calling (312) 506-4450 or fill out a contact form online to get started.

We Protect Sellers' Rights & Obligations in Commercial Real Estate Transactions

A seller's rights and obligations vary by state. We help sellers protect their rights and uphold their obligations, including:

The right to have an attorney represent them throughout the process
The right to negotiate the terms of the purchase agreement
The right to enter into new leases and contracts

The seller may also have general obligations, such as disclosing material defects of the property to the purchaser or ensuring that they believe the title to the property is free and clear of encumbrances.

Commercial Real Estate Sales

We assist clients through every stage of the Commercial Real Estate (CRE) sales process, and can be instrumental in the following:

1. Determining the Selling Amount

Determining the amount the seller is willing to take for their property may take some work. There are numerous considerations, such as any lien amounts that will need to be paid off at or before closing, as well as the value of the property.

If the property is being sold along with a business, the value of the business must also be determined. The listing price should leave some room for negotiation.

2. Entering into a Purchase Agreement

Once the seller and purchaser agree on the terms of the sale, a purchase agreement will be executed. This agreement should spell out all the terms of the agreement reached by the parties, including the obligations each party must carry out in order for the closing to run smoothly. It is best if each side retains its own lawyer.

Click here to learn more about our legal service offerings for corporations.

3. Complying with Purchaser Obligations

The purchaser must comply with certain obligations in order to obtain the financing they need to purchase the property. This may include property inspections and appraisals. The seller will need to be considerate of these requests and comply with them so that the purchaser can meet their obligations under the purchase agreement.

4. Signing the Deed and Other Closing Documents

For the closing on the property to be complete, there are certain documents the seller will need to execute. These include the deed and closing statement, as well as other documentation that may be required by the specific jurisdiction, including national, state, municipal, and local requirements.

It is in the best interest of the seller to have their own attorney review these documents to ensure they know exactly to what they are, and are not, agreeing too.

5. Paying Existing Liens

Although paying off the actual lien is a matter that may be handled by the closing agent, the seller needs to be certain that the agreed-upon selling price is enough to pay any liens on the property as well as any other fees, like the amount owed to the real estate agents, the closing agent, and the attorney.

6. Handing Over Property to Purchaser

Once all documents have been signed, and the money has changed hands, it is time for the seller to hand over the property to the purchaser. This includes the actual keys, security and alarm codes, and any other information the purchaser needs to get full use of the commercial property.

Essential Documents for Selling Commercial Property

States vary as to what documents a seller must provide. Some of the more commonly required documents include:

Deeds. The deed is the legal document that transfers ownership of a property from the seller to the purchaser. Every state has requirements regarding the proper way a deed should be executed to be valid.
Assignments of Rights. In some situations, the business located on or in the CRE is also set to be transferred. When this happens, an assignment of rights is needed to spell out exactly what the seller is transferring to the purchaser.
Disclosure Statements. Although not required in every state, a disclosure statement is the seller's way of legally disclosing to the purchaser any defects connected to the property.
Property Access. Although not an actual document, the seller may be required to give the purchaser and their agents access to the property prior to the purchase in order to comply with the terms of the purchase agreement.

Contact Airdo Werwas LLC for a Confidentail Consultation

Airdo Werwas LLC provides legal counsel to individuals and businesses in residential and commercial real estate transactions. Whether you are an experienced real estate developer or a first-time buyer, we can help you protect your rights and interests in a real estate transaction.

Complete our online form or call (312) 506-4450 to schedule a consultation.

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At Airdo Werwas LLC, we're always ready to take your call! Give us a call at (312) 506-4450 or fill out the form below to contact one of our team members.

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