When acquiring a property, business owners have many aspects to consider. Business owners can benefit from learning about how the acquisition process works, for it can be quite complicated and intricate. Knowing the applicable laws and strategically searching for the right property is essential. A business real estate acquisition can be a large financial investment, so when the time comes, it is critical to ensure the purchase is legally sound.
For all of your questions and to help in purchasing real estate in California, the Leiva Law Firm has an experienced team of Los Angeles real estate lawyers who can assist you throughout the whole acquisition process to ensure you understand the extent of your rights and obligations regarding this deal.
Legal Considerations for Buying Properties
By preparing a strategy poised for long-term success, investors can make calculated decisions that they can feel confident in when it comes time to finalize a real estate transaction. So, the first thing to do is to carry out a due diligence process. Engaging in due diligence is essentially the research portion of real estate acquisition, where, when a property is found, a comprehensive evaluation is conducted. The condition of the property must be assessed, digging into the background of the property to see if there are any liens or other legal liabilities is necessary, and a calculation of the financials of the property defines three actions to take with due diligence.
Throughout the acquisition process, having the right people in place to provide assistance is incredibly important. For example, land acquisition is often very tricky and complicated, so having qualified lawyers on your side who have a background in property law can be advantageous.
Zoning Law Compliance
Zoning laws dictate how certain types of real estate can be used. Since many zoning laws are established at the local level, there is a tremendous amount of variation from one location to the next. To ensure that the property you are interested in will fit your purposes, it must be zoned properly. Looking into local ordinances can save you a lot of time and effort because if a property does not meet your needs, you can quickly move on to finding another that will.
If you have decided on a specific spot, though, there could be flexibility within the local zoning laws. Meeting with planning commissions or attending public hearings could get you where you need to go. This route is timely though, and nothing is guaranteed.
In addition to understanding zoning, you must also know precisely where your property lines are. A land survey can do this. A professional surveyor will be able to define your property’s boundaries and it’s dimensions. Knowing this information will keep you from costly mistakes like building on another party’s property.
Concrete information about the exact outline of your property is useful but knowing easements is also necessary. An easement exists where others have the right to use and access your land. Again, prepared real estate lawyers can assist here. It is helpful to have a proficient lawyer who knows how to negotiate easements to make sure your purchase agreement serves your purposes and mitigates potential legal pitfalls down the road.
Speak to an Attorney at Leiva Law Firm Today
If you are a business owner planning to acquire real estate property, you should seek legal advice before signing any deals or agreements. The knowledgeable Los Angeles real estate lawyers at the Leiva Law Firm will help you with all the legal complexities surrounding real estate acquisitions to ensure you don’t make a false move.
Call the Leiva Law Firm at (818) 519-4465 today to schedule a free consultation with our resourceful real estate attorneys.