Commercial Real Estate Transactions: Tips to Prevent Disputes

Here at Boyer Law Firm, we have represented brokers, agents, and purchasers of commercial property.  It is common to have disagreements over real estate negotiations because disagreeing is part of the bargaining process.  Sometimes the buyer disagrees about the purchase price with the seller.  The other time, sellers disagree about whether they owe a broker a commission if the deal never closes.  If the disagreement is material, then sometimes court action is appropriate to resolve disputes.  Regardless of the disagreement, however, many of these issues could have been fixed before they happened.

Listed below are a few tips for ensuring a smooth transaction.
  1. Get Everything in Writing

The number one mistake that clients make is not getting every aspect of the agreement in writing.  It is essential to reduce all the terms of the agreement to writing specifically in the contract.  Although the opposing party may insist on taking their word, you must get everything in writing and have them sign all documents.  If you do not have a signed writing it will be a lot more difficult to enforce the term you would like to enforce.  There are potential avenues to getting orally spoken terms into court as evidence to modify an existing contract; however, courts are reluctant to do so and it will be much easier to include the term in writing.

     2. All Communications are likely Admissible in Court

Furthermore, many clients make the mistake of sending emails, texts, or voice messages without thinking twice about how it may affect them during litigation.  Angry and bold texts may work against you in front of a jury if admissible as evidence during a trial.  As a general rule, you should be hesitant to send anything that could hurt your case in court.  Similarly, you should save any emails or texts that you receive in regard to a real estate transaction.

     3. Make Sure Your Contract is Enforceable

You should consult an attorney if you have questions about the enforceability of your contract.  Whether you are a listing agent, a seller, or a buyer, you should always have an experienced professional review any and all documents.  Consulting an attorney before contract creation will significantly reduce the risks of future litigation arising from your real estate deal.  Here at Boyer Law Firm, we have experienced attorneys who look forward to working with you.  Please contact us today!

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