People and businesses generally expect the details of a contract to be honored once it is signed. Whether it is landlords or tenants, contractors or customers, construction companies or owners, the reason contracts are signed is to make sure that a party’s actions support a verbal agreement. However, this is not how it always goes in real life, which can mean that there is a breach of contract.
The biggest question when selling a business is trying to determine its value. Whereas a selling a home will be about the property, amenities and other things that can be compared to other listings, valuating a business can be more complex, and there is more than one approach to doing it.
Residential rental properties will often get a fresh coat of paint before new tenants move in. Commercial spaces, however, will often need more work to accommodate the unique needs of the business tenants. This is generally paid for through a tenant improvement allowance, which is one of the most significant issues negotiated for a rental agreement. It not only dictates what will be done in preparation for the new tenant, but it also impacts how much the landlord charges in rent.
Selling a home or property is one of the biggest business deals that most Americans will ever handle. This can lead to a lot of stress and even frustration. While different real estate experts have different approaches to preparing a property for selling, owners can also help their property to stand out by spending some time, money and effort to getting that it ready. The goal is to make it appealing enough that buyers want to move in or consider it a good investment.
Real estate transactions are biggest financial deals that many of us ever engage in. At the heart of that deal is transferring the title from the seller to the buyer, so it is absolutely critical that property owners and buyers make sure that the title is clean or clear.
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.
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:
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 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.
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.