Commercial property transactions are complicated and overwhelming for those who don’t have any experience with them. However, the process doesn’t need to be as intimidating as you might think. Some tips can help simplify things and make your next purchase much smoother than it would otherwise be.
Consider Zoning Restrictions and Possibilities
Commercial property zoning restrictions are often used to reduce the potential negative impacts on adjacent residential properties. Zoning can be used to regulate what types of commercial activities are permitted in a particular area, how tall buildings can be, and whether or not new developments will have parking lots or surface parking. The zoning in place and what might be allowable will determine what types of business you’ll be able to use the property for or what industries you’ll be able to lease.
Examine Sewage Accommodations and Water Restrictions
Cities have size requirements for bathrooms based on how many employees or patrons might use the building. Find out what those are and then compare that to what the building currently has. If the building space will need more, or if you’re sectioning off the building for more than one business to rent, you’ll need to find out if the building can have more bathrooms built-in. Some facilities won’t be able to accommodate this.
Work with Orlando Real Estate Law
As you’re picking a commercial property to purchase, you’re going to want to work with real estate law Orlando-based. You must have the attorney look over any contracts or leasing requirements for your scenario. Sometimes contracts are drawn up that require things that technically aren’t required by law, and other times the agreement will leave out essential protections you need.
Real estate attorneys are on your side regarding the ins and outs of commercial property transactions. Use their experience and expertise for your good so that you can accomplish your commercial goals.