Legal Issues to Consider When Selling Commercial Office Space

You have your office space for sale but you want to protect yourself. It is important to have an experienced team of professionals to help you navigate the legal issues. Whether you have office space for sale, retail space for sale, or industrial space for sale, your team should consist of a commercial real estate broker, a real estate attorney, and tax accountant. There are several legal issues that you need to consider when you have commercial space for sale.

  • Consult with your attorney to make sure there are no legal restrictions or issues that would stop/hinder a sale. Are there any lease agreements that may hinder or slow down a sale? Is there an HOA or association that need to be consulted? It is always best to know all legal aspects of a sale before starting the sales process.
  • Consult with your tax accountant to see if there are any tax issues with selling your property. Maybe a 1031 exchange would be an option for you to limit your tax liability.
  • Consult with your commercial real estate broker to disclose any and all known defects. Trying to hide an issue from a potential buyer can lead to legal action against you.
  • Consult with your commercial real estate broker on how they will market your property. Allow the broker to guide you and review any ideas you may have. Your broker is experienced with the legal guidelines required for marketing commercial real estate.
  • Check all security on the property to limit liability from personal injury or property damage.

Want to know what makes CMG special and unique in the world of commercial office space sales? We own several commercial properties ourselves and we know what to look for in commercial, retail, and industrial space for sale. Plus, the CMG team will do whatever it takes to earn the trust and respect of our customers, vendors, investors, and business community. When you choose CMG, you can rest comfortably with the knowledge that your office space for sale, retail space for sale, and industrial space for sale will be in the hands of seasoned professionals.

Contact Jim Provost and the CMG team today to schedule a free consultation to discuss your commercial property sales needs:  707.575.5500.