If you are a beginner in this industry but are planning to get involved in a commercial real estate, it is always best to learn the differences between commercial and residential real estate investments.The market, laws and due diligence have their differences. You must carefully inspect and survey the property before finalizing any settlements. Getting easements included in the sale should also be acquired if needed.
A lot of people might think that easements are a burden especially those that are for utilities and sewer. But for commercial properties, easements are beneficial. Easement agreements are usually included in the deed which are needed by commercial real estate buyers to permit entering, exiting and even parking within the commercial property.
The best way to find out if you need easements is to get a survey of the property showing not only the property but any easements that have to do with the property as well. The title insurance commitment also needs to reflect a legal description of the easements. The title company has to search not only the commercial property that you're buying but also any other property in which you are receiving an easement.
When investing in commercial property, be sure that you have an attorney who is competent with regards to commercial real estate, not only on residential real estate. Commercial real estate is a completely different from residential real estate and your lawyer should be well-informed in this area of the real estate business.
One of the known successful people in the industry of commercial real estate is Lawrence Todd Maxwell. With a degree on accounting and economics, he has done very well in the industry. He is a real estate professional who specializes in the development of commercial retail space, self storage properties, office buildings, apartment projects and active adult communities throughout the Southeastern US.
Learn more about him by following on social media: