Commercial & Residential Real Estate Closings

Satel Law is a trusted advocate in both commercial and residential real estate closings. Closings include complicated legal documentation that is governed by federal and state laws, and a trusted title agent acts as a third party to facilitate the interactions between buyers, sellers, lenders, brokers, and all parties involved in a real estate closing.

Closing on commercial property is more involved than closing on residential real estate. Items to consider in a commercial property closing include:

• Requirements such as zoning, seismic risk assessments, environmental site and property condition assessments, American Land Title Association (ALTA) title endorsements, and more
• Parties involved in the closing include the buyer and their attorney, the seller and their attorney, the lender, title/escrow company, corporate officers, board members, and assigned signors
• Closings must include a purchase and sale agreement, which is customized and includes numerous parties, conditions and contingencies to be met
• Additional steps include obtaining a survey, execution of assignment(s) and assumption(s) of leases, Uniform Commercial Code filings, zoning reports, ALTA coverages, access and entry by easement, and environmental reports.