Why You Should Take Your Time With a Commercial Real Estate Title Review in Colorado

Acquiring expensive commercial real estate in Colorado for your intended business or investment is not something that should be rushed through or taken lightly. Defining your goals and objectives for the property you buy will help guide your choice and better protect you financially. Working with an experienced real estate attorney in Colorado will safeguard your interests and ensure that your purchase is well negotiated and meets your requirements.

It happens quite often that an investor searching for specific real estate believes that they found the right spot and proceeds forward without thoroughly reviewing the title. Should an acquisition take place, it potentially may come with many costly issues. The Colorado commercial real estate attorneys at the Law Offices of Eric L. Nesbitt can help you with your investment by comprehensively reviewing its title so you have a full understanding of exception items.

Why Title Review is Critical to Commercial Property Acquisitions?

There are several reasons why thorough title review is necessary including:

• Every party that has ownership of the property must be identified in all documentation confirming its sale. Such documents include the Purchase and Sale Agreement and the conveyance deed for example.
• All restrictive covenants must be meticulously examined. If any of the conditions will be difficult for you to comply with this is going to be a problem. Should there be a restriction that does not work for you, then you know the property is not ideal for your purposes and you can move on.
• Sometimes there are options that provide for specific purchase rights and sale allowances. You will want to know if there is a right of first refusal in the documents.
• The documents could have specific easements and in some cases, an easement is a benefit. Other times, an easement can be a handicap. Understanding what easements exist will be something that the buyer can think about in relation to business operations or other intended uses. If an easement will be a detriment to the use of the property, then the property will not fulfill your objective.
• Looking for encroachments and understanding what they are should they come up can save a buyer from legal challenges that may arise in the future.
• There may be guidelines for repair and maintenance issues, buyers should be made aware of these and decide if they can accept them or not.

The notes above illustrate just some things that buyers should think about when they are searching for a commercial property in Colorado. These issues also highlight why it is so vitally important that an experienced Denver commercial real estate attorney should be a part of the process and take the time to do a title review.

Meet With a Colorado Commercial Real Estate Attorney Today

Even if you find a property that you fall in love with it is prudent to take your time and go through all of the due diligence. You could acquire property only to find out that you cannot use it the way that you wanted or that you have taken on serious legal challenges and liability issues. The Colorado real estate lawyers at the Law Offices of Eric L. Nesbitt, P.C. can help. Call the Law Offices of Eric L. Nesbitt, P.C. to schedule a free consultation today at (303) 741-2354.