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Business and Real Estate Transactions Archives

Sears sells off remaining assets

The epic saga of Sears has entered a new and possibly final chapter. The 132-year-old retail chain that filed Chapter 11 bankruptcy in October of 2018 has received a $5.2 billion offer for the last 450 retail stores as well as all other remaining assets. The offer was made by Eddie Lampert and his ESL hedge fund, which took over Sears in 2013. The offer will need approval in the courts on February 1. The deal would then be closed on February 8.

6 Tips for buying commercial real estate

The family home will be most American’s biggest investment. However, many individuals and businesses engage in buying commercial property. The purchase of commercial property involves the same concepts as residential property, but there are often different issues. And while some will close a home sale without an attorney, it is misguided to assume one does not need an attorney for commercial property purchases, particularly ones involving large amounts of financing. According real estate veterans, these six tips can help headaches or even financial ruin:

FTC shuts down overseas real estate scam

Real estate investments can be risky, particularly when it is for property outside the United States. Serial scammer Andris Pukke and others have now been charged with swindling more than $100 million out of American investors for property located in Belize. According to the Federal Trade Commission, this is the largest overseas scam that it has ever investigated and shut down.

Commercial tenant rights in Ohio

Commercial tenants in Ohio enjoy many of the same rights as residential tenants. But really, it breaks down to the lease contract that both sides sign to determine what those rights and obligations are. Experts agree, it is always crucial to go over important contracts with a lawyer, particularly one with real estate law experience if a business is looking to rent a new commercial space. Not only can a lawyer point out any loopholes or other issues a landlord may use to their advantage, they can help negotiate the lease to ensure that it is binding in a court of law.

Why thinking about your weaknesses can be important when starting a business

Everyone has their own strengths and weaknesses. While people may not like to think about their weaknesses, it can be important to do so. It can especially be so when starting a small business.

Sears and Kmart department stores repurposed

The long slow demise of Sears has been painful for those who used to love to look through the famous catalogs. These days the department store chain is perhaps remembered as a brick and mortar precursor to Amazon and other online shopping sites. However, as buying habits have changed, the stores for the budget conscious shopper fell on hard times.

Multigenerational home buying on the rise

It was recently reported in the New York Times that 64 million Americans live in multigenerational households, which is double the number it was 50 years ago. The reasons for doing this are many, including saving on the cost of care for the young and elderly and the rising cost of real estate. Of course, there is unique chance of the elderly and young to share time together, creating special memories that grandchildren will have for a lifetime.

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