Avondale Commercial Real Estate Lawyers
Commercial Real Estate Law in Arizona
In Avondale, Arizona, "commercial real estate" is any form of land or building which is utilized for a business, as opposed to residential, purpose.
The laws regulating real estate in Avondale, Arizona apply differently when dealing with commercial, as opposed to residential, real estate.
When renting or buying residential real estate, renters and buyers have considerable legal protections which often don't apply to commercial real estate.
Several of the protections that don't apply to commercial property include warranties of habitability, rent control, and warranties of quiet enjoyment. There are others, as well. The most general protections, nonetheless, apply to buyers of both residential and commercial real estate, including remedies for fraud and concealment of physical or title defects.
Common Commercial Real Estate Law Issues in Avondale, Arizona
Financing: Some small businesses in Avondale, Arizona find it necessary, at some point, to purchase a piece of real estate, for various reasons. Nonetheless, most owners of small to medium-sized businesses can't afford to make a real estate purchase up front, with the cash they have on hand. Simply put, very few individuals have hundreds of thousands of dollars just sitting in the bank. One solution to this is a mortgage, which is similar to most other forms of secured loans: a bank lends you money, and you put up some piece of property as collateral, so the bank has some security in the event of default. With a mortgage, however, the property being purchased with the loan also secures the loan, permitting the bank to foreclose on it in case the buyer defaults.
Concealment of Defects: if the seller or lessor of commercial real estate actively conceals a material defect in the real estate, they can be accountable to the buyer or renter for any damages caused by this concealment.
Duty to Inspect: Lest you believe that the duty to disclose defects relieves any duty of diligence on the part of the buyer, the law will not reward such lapses with a major cause of action. Buyers have a duty to conduct a reasonable inspection of the property before they buy it, normallyy with a licensed building inspector. If the buyer fails to do this, they won't be able to recover any damages for defects which they could have discovered through a reasonable inspection.
Encumbrances: Encumbrances are defects of a different type: rather than physical defects, they are defects of title. In Avondale, Arizona, an encumbrance is an interest in a piece of real estate held by a third party, such as covenants or easements. An easement is a right held by someone to use the property of someone else for a particular purpose. For instance, a person might have an easement on the land of another person, allowing them to cross the land to access a public road.
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Can a Avondale, Arizona Attorney Help?
These issues can be very complicated, and most people consider such financially-weighty decisions to be very necessary. If you are one of those people, it's a smart move to contact a Avondale, Arizona real estate attorney if you are facing any of the issues discussed above.
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Commercial Real Estate Attorneys in the Largest AZ Cities
Life in AvondaleAvondale is very near Phoenix, Arizona, located in Maricopa County. It is very well noted for being home to the Phoenix International Raceway, a fun and famous auto-racing facility!
Being near Phoenix, Avondale residents have access to some very well-known law firms of all sizes. Phoenix is home to many large, mid-size, and small law firms that are home to many competent attorneys. Many of these attorneys have been educated at the top-tier University of Arizona Law School. Therefore, many lawyers working in Phoenix have a connection to Arizona and its residents. Avondale citizens can therefore enjoy personalized legal service from attorneys who care about their home.
Some famous residents of Avonda include Craig Mabbitt, Nick Harris, Clancy Pendergast, Raymond Shuey, and Everson Griffen.