Havelock Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in Havelock, NC

Commercial Real Estate Law in North Carolina

Commercial Real Estate Law in Havelock, North Carolina is any type of land or permanent structure which isn't used for residential or industrial purposes, and is instead used for a business involving the buying and selling of goods or services.

The laws in Havelock, North Carolina which regulate commercial real estate differ considerably from the laws governing the rental and purchase of residential real estate.

Buyers and renters of residential property enjoy some pretty substantial legal protections, because the law of most states presumes that shelter (being necessary to survive, for the most part) is more important than business. Therefore, many of these consumer protections don't apply to commercial real estate.

These absent protections include rent control, and warranties of habitability, among others. The most basic protections, such as prohibiting sellers of real estate from lying about the property to the buyer, apply in any context, however.

Common Commercial Real Estate Law Issues in Havelock, North Carolina

Financing: Most small business owners in Havelock, North Carolina don't have the money to buy real estate with the cash on hand. However, there is a solution to this problem, allowing people without massive sums of money (but with a steady income) to buy real estate: the mortgage. A mortgage is a loan used to buy real estate, and the real estate being purchased is used as collateral for the loan.

Disclosure of Defects: Sellers of real estate have an obligation to inform prospective buyers of any defects present in the property, such as water damage and other structural problems. Basically, if the defect is significant enough that it might affect a reasonable buyer's decision on whether or not to purchase the property, and the seller knows about it, it must be disclosed. Failure to disclose such defects would give a buyer the right to sue the seller, and recover substantial damages, including the cost of repairing the defect, compensation for any injuries or illness caused by it, and the reduction in the property's value caused by the defect.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Consequently, if the buyer fails to conduct a thorough inspection of the property before buying it, and thereby fails to discover defects which such an inspection could have easily revealed, he will not be able to sue the seller over these defects later on.

Encumbrances: These are defects to title, rather than physical defects. They are legal issues which might make it difficult or impossible for a landowner to make full use of their land. In Havelock, North Carolina, these might include easements. An easement is a right to use property held by a party other than the owner. This use is often very limited in scope, such as allowing the holder of the easement to cross the property to access a public road, or something similar. Such rights usually have to be recognized and honored by new owners, so if they buy property not knowing about them, they might be seriously inconvenienced.

Can a Havelock, North Carolina Attorney Help?

The issues surrounding commercial real estate in Havelock, North Carolina can get fairly complex. Therefore, it's never a bad idea to have the assistance of an efficient commercial real estate attorney.

Talk to a Real Estate Law Attorney now!

Life in Havelock

Havelock, population 22,000, is located in Craven County in the state of North Carolina. It is one of the state's more quickly growing cities, as it is the second largest in the county. It was originally founded as a railroad station.

Havelock is best known for its connection with the United States military. The city is home to the largest Marine Corps air base on the East Coast, known locally as "Cherry Point". Also, the city is named after Sir Henry Havelock, who was a British military officer operating in India during the 1850's.

Today the town is supported by a bustling economy and is an ideal place for both residents and visitors. The city is served by a fine education system and has many facilities for leisure and recreation purposes. Visitors to the city can inquire at the Havelock Tourist Event Center to receive an in-depth guide to activities in the Havelock.

If you have a legal issue, an attorney in Havelock, North Carolina can be of great assistance. Havelock lawyers handle variety of legal claims and are available for representation and advice.

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