Property transactions are complicated, requiring expert attention to vital requirements in the contract, and state, or federal laws. An Ohio commercial real estate lawyer will work with you as you buy, lease, sell, or develop a commercial property, so that you can feel confident that no step has been overlooked.
What is a Commercial Real Estate Lawyer?
A commercial real estate lawyer works with commercial clients to manage the legal aspects of commercial real estate transactions. Commercial real estate lawyers typically work with developers, insurance companies, property owners, or asset-based lenders.
What Does a Commercial Real Estate Attorney Do?
A commercial real estate attorney works with commercial clients to:
- Review commercial real estate contracts to safeguard the interests of their clients;
- Support the process of negotiating and contracting with a buyer or seller;
- Draft loan contracts secured by real estate assets;
- Manage the process of acquiring titles; and/or
- Negotiate liens with lenders.
When Should You Hire a Commercial Real Estate Lawyer in Ohio?
You should consider hiring a commercial real estate lawyer whenever you are seeking to protect your commercial property rights. An Ohio commercial real estate attorney can serves you ifn:
- You are seeking to extend commercial real estate financing, such as construction loans or mezzanine loans;
- You need an attorney to review or negotiate real estate contracts or represent you in a property litigation matter;
- You are undertaking real estate transactions, including buying, selling, or leasing;
- You require an attorney opinion letter for the lender or buyers lender;
- You are in correspondence with the buyer’s or seller's attorneys;
- You are facing challenges with commercial zoning and land use laws;
- You are considering whether to make a tax abatement application;
- You require an explanation of any real estate legal documents;
- You require help with preparation and representation at closing; and/or
- You are dealing with a contract dispute.
How to Find a Lawyer for Commercial Real Estate?
To find the best commercial real estate lawyer in Ohio, begin your search at the Lawrina legal directory. Perform a search by selecting the relevant practice area from the options provided and choose the state where the commercial property is located.
How Do I Choose a Commercial Real Estate Attorney in Ohio?
Once you have selected the legal issue and your state, the directory will provide you with several qualified attorneys. To choose an appropriate attorney, consider:
- Expertise - Ensure the lawyer you select is a real estate attorney. Avoid working with an attorney specializing in an area of law that is not real estate. Commercial real estate law is complex and ever-changing. You will want to work with an attorney with sufficient knowledge in commercial real estate, which can be determined by the number of years of experience and estimate of the value of transactions handled.
- Examine reviews - Seek out online reviews of the attorney’s quality of work and client satisfaction. You may consider avoiding working with attorneys with negative reviews and comments on their profiles. Consider asking any potential attorneys for references of past clients they have handled who had an issue similar to yours.
How Much Does a Commercial Real Estate Lawyer Cost on Average in Ohio?
The cost of engaging a commercial real estate law firm depends on the nature of service the attorney is providing. First and foremost, the price depends on the real estate contract; for instance, some mortgage lenders require that an attorney be present at closing while others do not. The agreement may also indicate who bears the responsibility for the closing costs.
On average, a lawyer for commercial real estate from Ohio costs between $2,000 to $15,000, or $350 per hour. Most attorneys’ pricing ranges are:
- $2000 - $5,000: Basic contract drafting or review, closing review, and general counsel. A quiet title action, that is uncontested and straight forward will cost approximately $2,000, while a complex and contested title action will be upwards of $4,000.
- $5,000 - $10,000: Mid-size commercial transactions or relatively minor issues such as title disputes and forms of contract negotiations.
- $5,000 - $30,000: Zoning and land use compliance issues, large commercial transactions, and disputes.
- $2,500 - $10,000: Commercial litigation cases.
Do Commercial Real Estate Attorneys Usually Charge for Consultations?
A commercial real estate attorney may not charge for the initial consultation. The initial consultation is the chance for the attorney to understand the main issues of your case and the level of effort required to protect your interests. It is also your chance to examine the attorneys' experience and seek out references to determine if they are the right fit for you.
