Purchasing or selling commercial real estate is a complex process, and our lawyers can provide the guidance necessary to oversee these transactions and address disputes that might arise.

We can help clients handle various disputes during real estate transactions, most notably breaches of contract. If the buyer fails to uphold their end of the bargain, such as not disclosing property defects, the seller’s earnest money should be returned to them. There are some tell-tale signs of impending real estate transaction disputes, such as there being unsecured liens against the property or either party being non-communicative during the process, and our lawyers can quickly identify these issues and promptly address them to save you time, stress, and resources.

For a free and confidential case review from our real estate transaction and disputes attorneys, call the Heyman Law Firm now at (410) 305-9287.

When to Get a Lawyer to Handle Real Estate Transactions and Disputes in Towson, MD

Experienced attorneys can help buyers and sellers approach complex real estate transactions and address any issues that might arise during them, such as a breach of contract that makes you rethink proceeding with the sale in Towson, among others.

There Was a Breach of Contract

Suppose there was a breach of contract at some point before a transaction was finalized. In that case, our lawyers can help you address the situation by negotiating with the other party involved in the transaction or taking them to court, if necessary. Real estate agreements are contracts, and the buyer and seller agree to certain terms. For example, the sale may be contingent on whether or not the buyer secures financing or the property passes inspection. If either party breaches the real estate contract and the terms they agreed to, the other may be able to leave the transaction without risk.

You Need Your Earnest Money Back

If, after a breach of contract or during the transaction, you, as the buyer, decide against purchasing the property, your earnest money could be on the line. The good faith deposit you give to the seller is collateral, so to speak, and the seller could keep it if you leave the agreement without citing a valid reason, such as a breach of contract. If the seller fights to keep earnest money, claiming you left the sale without cause, we can take them to court to get your deposit back once we review the contract and determine how the seller breached it.

Addressing Commercial Landlord-Tenant Issues

Property managers of large apartment buildings or commercial properties should protect themselves with appropriate leases. Otherwise, they could face issues with tenants regarding who is responsible for certain expenses or repairs. We can explain the differences between gross and net leases and determine, depending on your tenants and property, which type of commercial lease will best protect you as a commercial landlord. Our attorneys can also help commercial property managers address other landlord-tenant issues and resolve them as soon as possible in Towson.

Navigating Complex Transactions in General

Commercial real estate transactions are often complex, with considerable money on the line should an issue arise. Our attorneys can help you navigate these transactions from the get-go, including specific contingencies in your contract, depending on whether you are the buyer or seller and the type of property being sold and purchased. Contingencies can protect sellers and buyers alike, giving them an escape route, so to speak, if a problem comes up that makes them second-think their decision to move forward with the agreement. For example, we can include an appraisal contingency, making the sale depend on whether an appraisal aligns with the purchasing price, enabling you to get your deposit back if it does not.

Signs of Potential Real Estate Transaction Disputes to Look for in Towson, MD

When you enter into a real estate transaction, though you may be hopeful for its success, looking for signs of potential issues is important. Our lawyers can do this throughout the transaction so that we can promptly address any hurdles to closing before they become bigger problems.

The Seller Fails to Disclose Facts About the Property

If sellers are aware of latent defects to the property that could harm the buyer’s health and safety, they must disclose them to the buyer. If they do not do this before the inspection, and the inspection findings indicate serious issues, our lawyers can help. Typically, buyers want to leave the agreement instead of renegotiating the purchasing price or requesting seller concessions in these situations, especially if the defects are considerable. If latent defects are discovered after closing, our real estate transaction and disputes attorneys can help you bring a claim against them to address the cost.

If the seller fails to disclose unsecured liens against the property or title and deed issues, that could also lead to issues with the transaction going through down the line.

The Buyer Fails to Obtain Financing

Finalizing real estate transactions depends on whether buyers can obtain financing. Including a financing contingency in a contract can protect sellers from remaining in limbo with a potential buyer who is repeatedly denied loans or cannot get one by the agreed-upon date. If a buyer has not already lined up financing for the purchase, that could be a sign of upcoming problems during the transaction.

Either Party is Non-Communicative

If you agree to purchase or sell a property from or to another party and that party becomes non-communicative during the process, that could indicate serious issues. They might miss important deadlines, fail to provide the information you need, or be generally difficult to work with. In these situations, ending the arrangement and returning the earnest money to the buyer is typically appropriate.

Call Our Lawyers in Towson, MD for Help with Your Real Estate Transaction

Call the Heyman Law Firm’s real estate transaction and disputes attorneys at (410) 305-9287 for help with your case.