When you are looking to purchase a commercial building or leasing office space, it is easy to get caught up in the drama. The journey can end up being anything but simple. Michael Gangadeen is a New York lawyer that has dealt with many real estate transactions over his 20+ career. To help you avoid some of the common nightmare scenarios here are some useful tips to keep in mind as you navigate through the process.
When you are looking to purchase a commercial building or leasing office space, it is easy to get caught up in the drama. The journey can end up being anything but simple. Michael Gangadeen is a New York lawyer that has dealt with many real estate transactions over his 20+ career. To help you avoid some of the common nightmare scenarios here are some useful tips to keep in mind as you navigate through the process.
- Make sure that the seller is 100 percent positive that the property is actually for sale or lease.
- Always know the person you are dealing with. Make sure that you are speaking with the owner of the property and not someone who is renting the space.
- Be sure the deal has closed before moving boxes and equipment into space.
- Be careful when dealing with buyers that don't have boundaries.
- Watch out for fraudulent buyers. To avoid receiving forged documents, always verify proof of funds and pre-qualification letters.
- Know exactly what you are getting. Take tours of the property and perform thorough inspections.
- Ask questions to ensure you are 100 percent certain that the property is the right one for you. Purchasing real estate is an expensive endeavor, and it is important that if you have any questions about the property that you get them answered before closing the deal.
