When a brick and mortar Arizona business is looking to buy a piece of real estate, coming to an agreement with the current owner becomes a necessity. Commercial real estate transactions can be complex, and you will most likely need help in ensuring that you are getting the best terms possible. An improperly drafted or inadequate agreement could spell disaster for your business at some point in the future.
You are not required to simply sign a boilerplate purchase agreement. These documents are often presented to a buyer with the unspoken implication that you do not have the right to negotiate better terms for your business. That does not have to be the case. An attorney can discuss what you want to get out of the deal, review any documentation provided and negotiate on your behalf in order to improve your position.
There is also a great deal of due diligence that needs to occur prior to executing a purchase agreement. This often includes a review of the title report to ensure that the current owner truly owns the property and that no one else has any rights to it. Other items that need to be handled include inspections and appraisals, among other things. These steps are for the protection of you and your business, and no transaction should close without you and your attorney being satisfied that everything is in order.
Once all of these steps are taken, the appropriate commercial real estate documents can be drafted and reviewed. After you and your attorney are satisfied, only then should the deal go to closing. Purchasing commercial real estate in Arizona can be an exciting move forward for your business, and it is an investment in the future. Making sure that everything is done right from the beginning can help ensure that investment pays off for your business.