Each commercial closing is both complex and unique. This makes hiring of an experienced title company important as we can guide you through this detailed process of closing a successful transaction.
During this process, we can:
- Coordinate all commercial title orders
- Clear complex title issues
- Prepare and conduct the closing of the commercial closing itself
- Prepare the commercial closing documents
- Provide commercial escrow settlement services
- Offer commercial title insurance
- Title search for the property’s records
- Examine title for the sale, loan, short sale or foreclosure
- Offer escrow services for documents, deposits, post-closing issues or other business transactions
- Coordinate settlements for all real estate transfers and/or business entities
- Disburse agreements for construction loans related to sale or loan proceeds (if applicable).
As you can see we offer a variety of services with these just being the tip of the iceberg. We can accommodate any situation and successful close any type of transaction, whether for sale by owner, gas station, hotel or strip mall closings, commercial real estate investment purchases or flips, double closing for commercial properties, refinance of commercial properties, first-time commercial real estate buyer closings, commercial short sales and much more.
Commercial real estate transactions can seem overwhelming. However, we are skilled at the process. There are usually four major steps to closing a commercial real estate deal with some of them ongoing and others overlapping that process. Every transaction goes through escrow, signing authority verification, due diligence and lastly, the signing and processing of the title and closing documents.
In escrow, a third party holds funds in an account until all of the requirements of the agreement have been met or until one party pulls out of the deal. It is designed to solve the issue of trust between two different parties. Nobody gets paid or receives the title to property until both parties have their conditions met fully.
Legal Entities and Authority
Sometimes a commercial real estate deal can involve one or more contracts between two or more legal entities. Because these deals are expensive, all parties will want to limit their liability and this often creates legal entities for the sole purpose of owning commercial real estate. For entities such as corporations, LLPs or LLCs, other steps much be taken to determine their fitness to conduct this type of transaction.
Commercial Title Issues
Ultimately, commercial title issues do arise. During this situation, it’s important to have skilled professionals by your side. We understand how to eliminate the issue of liens or encumbrances such as easements. With our help, we make a complicated process seem a lot easier to manage.
The commercial real estate closing process is often more involved and complicated than the residential real estate closing process and that individuals realize. Because of the large amounts of money involved and the variety of capital escrow sources, it makes the process much more complicated. However, with the help of Attorneys’ Title Services, LLC, we can solve these problems. For more information on our services, contact us directly today at 904-260-0105.