In both residential and commercial real estate transactions, there are legal considerations and responsibilities that you won’t find in smaller purchases, such as purchasing a vehicle. However, there are unique distinctions between residential and commercial real estate law that buyers and sellers alike must be aware of.
Commercial real estate law requires people to account for certain liabilities that aren’t typically present in residential buildings. Commercial properties must undergo specific property inspections, adhere to proper land use and zoning regulations, and meet other legal codes. These regulations are generally stricter than those for residential spaces.
Buyers must do their due diligence when purchasing any type of property, but this is especially important for commercial transactions. It’s crucial to thoroughly understand the condition of the property, so buyers should work closely with inspectors, appraisers, and other professionals who can give them the comprehensive information they need to know.
Simply put, commercial real estate law is generally more complex than residential real estate law. Fortunately, our team offers legal assistance for both commercial and residential real estate transactions here at Bright Law, PLLC. We are fully equipped to help you whether you are involved in either type of transaction, both as a buyer or a seller.
Hiring the right legal team for your real estate transaction will help ensure a less stressful and more straightforward transaction, which can benefit both you and the other party involved in the sale. Please don’t hesitate to contact us if you’re looking for a team that is well-versed in navigating the complexities of residential and commercial real estate law.