When you are involved in a commercial real estate transaction, it makes more sense than ever to hire a real estate lawyer, says Asaf Izhak Rubin, a seasoned lawyer handling disputes in the real estate industry for several years. A commercial real estate transaction has its inherent challenges and everyone knows that. However, a lot of people go into such a transaction thinking that paying attention to a few things would do the trick for them. That’s not true because these matters involve much more than meets the eye of someone who is not well-versed in the many regulations, laws, and complexities that surround the commercial real estate sector.
Asaf Izhak Rubin recommends that you hire a lawyer to represent you in such matters and prefers that you have one by your side right from the start. Here are a few things that make commercial property transfer issues overly complicated.
Zoning Issues Are Rampant
When you are going for a commercial venture, you have to know the zoning laws really well. As important as it sounds to know these regulations and laws, there is no reason to believe that you will alone know it all. It is always best that you hire a professional who knows these laws and is updated with any changes that are being made to them. Keep in mind that you can’t build a certain type of building if it does not meet the zoning laws. In addition to that, you can’t use the building for the intended purpose if you don’t follow the zoning laws.
Zoning laws can be very complicated and difficult to understand as they are always changing and subdivided into many other categories. Sometimes, you think you have built the perfect building, with the required number of floors and meeting other requirements only to find out that the noise level caused by your property is violating the zoning laws. Things can be tricky and Asaf Izhak Rubin believes only a real estate lawyer is in the position to understand all of it.
Involving a Mountain of Documents
One of the things that make commercial properties and projects a nightmare is the documents that you have to go through. From zoning regulations to notices from the local governments, you have to deal with a pile of documents every single day. If you are starting a new development project, you will have to deal with dozens of different local government departments. They have their requirements that you have to meet in order for you to avoid any zoning issues or commercial real estate problems. This can prove to be a big headache and not hiring a lawyer can prove to be a big mistake for you.
It is best that you hire a lawyer on time to keep track of everything you are doing right from the beginning. Involving a lawyer from the start means they will not have to catch up with anything. They can start from day one and make sure that your documents are in order. They can go through these documents, make sense of them, and find a way to use them to your advantage rather than against you. Again, the intricacies that these documents have require you to have a lawyer by your side to take care of everything important.
Preventing Emotional Devastation
One of the things that usually get overlooked by many is the role that emotions play in real estate transactions. When you are investing in a commercial real estate building, project, or piece of land, you are constantly thinking about the risk that is involved in the transaction. You don’t want things to go wrong and you can’t afford your money to go to waste. Add the many different types of documents that you have to go through and emails that you have to respond to. These things can combine to put immense pressure on you and cause you to make decisions with emotions.
You can have a lawyer handle all of this for you. They can take care of things on your behalf and reduce the pressure and workload. Firstly, they can take care of half of the matters that involve responding to the notices from the local government, going through the documents, and drafting letters, applications, and emails to get permissions for building certain components of the project. With emotions out of the way, you can expect for things to go right. Once again, Asaf Izhak Rubin reiterates that you hire a lawyer before any of these processes start.
Despite all the care and due diligence, you can’t guarantee that everything will happen exactly as you want it. Things can go wrong in many ways, and even if 95% of the processes have been taken care of, you will have 5% that can go wrong. If just 5% of the things go wrong, you will find yourself in a storm of difficulties. It always eventually pays off to have a lawyer take care of these things for you so you are prepared for the worst. When you have the perfect plan A, it simply means that you have a plan B too in place. That’s what a lawyer can do for you.
If you don’t have a lawyer, a small oversight can result in halting the entire project for you. For example, if you are following 99 building and zoning codes while constructing you commercial mall and not following just one, you could end up in a situation that requires months over months to bring things back to normal. Asaf Izhak Rubin that only a lawyer can get you out of such a situation.
There is no perfect way to do things, but you can always aim for what’s closest to being perfect. A slight mistake in commercial real estate can result in costing you millions. For this reason, Asaf Izhak Rubin believes that when you hire a real estate lawyer, you are not spending your money, instead, you are investing it.