Real Estate Lease and Sales Representation
In addition to the seventeen retail and industrial properties Mr. Silver acquired and sold in Eagle Group, LLC prior to 2009 (www.eaglegroupllc.com), he has represented clients in scores of acquisitions and dispositions of all property types. Preparation and negotiation of all documents required to buy and sell properties, review and abstract of leases, title documents, land surveys, environmental reports, physical inspection reports, review of zoning and use restrictions, estoppel certificates and subordination, non-disturbance and attornment agreements are all handled by this firm so that you buy with confidence and sell with a carefully controlled escrow process.
FOCUS: Acquisitions and Dispositions in a Down Market
Many clients will find great opportunities in a declining real estate market. A few areas of practice are deserving of special attention for our clients during such times:
Purchase and Sale Agreements
With the increased amount of litigation and complexity that has accompanied a speedily falling real estate market, representations and warranties that properly narrowly identify issues such as tenant litigation, pending bankruptcies, environmental concerns and tenant defaults will be ever more important. Having these obligations beyond closing is a contingent liability for sellers and of value to buyers. Accordingly, they must be drafted with great care.
Due Diligence Investigations
Without extremely detailed due diligence, what might seem like a good buy may end up a disaster. We don’t just utilize traditional “legal” due diligence on properties. We recommend and assist clients in detailed tenant research, including, review of correspondence files, on-line market research, in-store visits and in person interviews to find out exactly who will be paying the rent and how likely they are to continue being able to do so. For physical property research, we recommend architect and or engineer reviews of building plans and building department records searches in addition to site inspections. Not every client can afford or wants to have their attorney oversee this level of research on a prospective property, but we advise all clients how to do so if they want to undertake it themselves. And for sellers, we advise that you do many of these same inspections, especially title review, prior to marketing your property for sale in order to identify problems and resolve them before a shrewd buyer is able to take advantage of identifying these weaknesses.