Unless you’re lucky enough to be able to pay cash, you’re going to need a lender to fund your real estate purchase. That means learning the language of loans very quickly. Two important documents that are involved in most real estate transactions are the mortgage and the promissory note. Despite popular misconceptions, they’re not the same thing. What’s a mortgage?… The post What’s the difference between a mortgage and a promissory note? first appeared on Whitehill Law Offices, P.C ..read more

If you’re looking to purchase real estate, you may be interested in a short sale. This occurs when the seller is trying to avoid foreclosure or similar actions. They may be underwater on the house, meaning they owe more on the loan than the house is currently worth. The seller simply wants to get out of the property without the… The post What benefits does a buyer see with a short sale? first appeared on Whitehill Law Offices, P.C ..read more

If you have been looking to lease a commercial property, or are considering investing in a property to lease out, you may have come across the words “net lease” You may have seen it mentioned in various forms, such as triple net, double net and single net leases. Understanding what is the difference between these terms will be crucial before… The post What does “net” mean in terms of a commercial lease first appeared on Whitehill Law Offices, P.C ..read more

You’ve been searching for a new commercial property. Maybe you started a business 10 years ago, and it’s become very successful. It has grown to the point that you want to open a second location. You finally find a property that looks perfect, and you are considering making a purchase. While researching that location, however, you discover that it is… The post What if commercial real estate is in the wrong zone?  first appeared on Whitehill Law Offices, P.C ..read more

Whether to buy or lease commercial property is a decision that can impact your business financially and operationally. As such, it helps to look beyond the immediate costs and consider your long-term business strategy, growth potential and flexibility. While both options offer benefits, it all comes down to your business needs and goals. Here is what you need to know… The post Should you buy or lease commercial property? first appeared on Whitehill Law Offices, P.C ..read more

Investing in commercial real estate offers significant potential for profit, but it demands thorough planning. One way to help secure substantial returns is to obtain a property appraisal before making a purchase. This independent assessment of a property can help reveal its true market value to help an interested buyer make informed decisions and avoid overpaying. Determine fair market value… The post Why get a property appraisal before making a real estate purchase? first appeared on Whitehill Law Offices, P.C ..read more

We recently discussed how home sellers have an obligation to disclose defects during a real estate transaction. If the seller knows that there are significant problems with the home, they need to make potential buyers aware of those issues. After all, this can affect the value of the home and may change the purchase price. Some buyers will also ask… The post How some home sellers try to hide defects first appeared on Whitehill Law Offices, P.C ..read more

Commercial landlords rent out their properties to businesses that need space. They may provide retail space, industrial facilities or even office rentals. Commercial landlords may rent out an entire building or a single unit in a multi-tenant property. They can usually charge more per square foot than landlords who own residential properties. Commercial landlords also often have more complex and… The post 3 terms commercial tenants often want to negotiate first appeared on Whitehill Law Offices, P.C ..read more

Buying commercial real estate is typically not a task the uninformed should take on alone. It is a complex process that is fraught with many potential pitfalls. Here are some of the most frequent issues that can arise when closing on commercial property, and how legal guidance can help buyers overcome them. Poor inspection results A thorough inspection is crucial… The post Arizona buyers, beware of commercial property closing problems first appeared on Whitehill Law Offices, P.C ..read more

Life happens – and sometimes the financial twists and turns you experience are wholly unexpected. If you find yourself suddenly unable to pay your mortgage, you may be contemplating a short sale to get out from under the bill. A short sale is when a property is sold for less than the current mortgage. Done with the willing participation of… The post What are the dangers of a short sale? first appeared on Whitehill Law Offices, P.C ..read more