Dallas Real Estate Attorney: Commercial Real Estate
Commercial real estate contracts are far more complex than real estate contracts involving residential property. Real estate contracts for commercial properties involve not only the basic terms of the agreement but also risk shifting provisions. Sometimes a commercial real estate transaction may include the sale of a business, which adds another layer of issues that must be adequately addressed upon separate terms. Attempting to negotiate these complex transactions by yourself or through a real estate agent or a business broker will unlikely protect your interests or thoroughly inform you of all the pitfalls and risks of the contract. Having an attorney who has handled the sale of commercial real estate as well as contracts involving the sale of a business will enable you to know the full breadth of an agreement.
Senior attorney, John G. Meazell, has seen contracts involving the sale of a business that included real estate, wherein the contract dealt mainly with the real estate and the business part of the transaction seemed to be an afterthought. As a result, the parties ended up in litigation seeking hundreds of thousands of dollars from one another. Mr. Meazell understands the importance of not only the real estate transaction, but that a business represents a substantial asset that requires equal treatment under a comprehensive contract.
When one or more persons partner together to purchase commercial real estate, they often form a limited liability partnership to govern the transaction. The document that formalizes the partnership is often twenty to thirty pages in length. The limited liability partnership document details the rights, obligations, conditions, and remedies of the partners, not to mention the extensive tax implications. If such an entity is formed in connection with a commercial property, there is yet another layer of legal matters that must be addressed. In that connection, Mr. Meazell has handled multimillion dollar limited partnerships that have involved substantial risk shifting between the partners. As long as the real estate is sold for a profit, everyone benefits; however, if the endeavor sustains a loss, the loss is borne primarily on just a few of the partners. Therefore, one would be well advised to secure legal advice prior to the formation of any limited partnership.
Residential Real Estate
Whether you are purchasing your first home, upgrading to a larger home, selling your home or buying a new home, you should find the experience to be exciting and rewarding. For those seeking residential property law or simply real estate advice, Mr. Meazell has over thirteen years of experience. He can help take the mystery out of buying real estate in Texas and make certain that you have enough information to make an informed decision about your purchase.
If you are selling your home, Mr. Meazell can provide you valuable advice that may save you thousands of dollars. For a nominal fee, Mr. Meazell can review your TREC promulgated forms and advise you about any issues that remain. Your real estate agent is not authorized by law to give you legal advice. The worst thing for a real estate agent to do is to advise his or her customers as to the legal effects of the contract. A homeowner can get into a lot of trouble taking the “legal advice” given by real estate agents. Therefore, protect your interest and possibly save thousands in connection with your next purchase or sale of a home.
Hiring an attorney guarantees that you will receive an expert, unbiased explanation and evaluation of the contract. Mr. Meazell will work to negotiate fair and reasonable terms and will help you avoid any pitfalls of which you may be unaware. You may think the contract is clear and easy to understand, but it may contain provisions that are unenforceable or that create more liability than you realize. Litigating your rights after the fact can take years and cost thousands in legal fees