Pittsburgh Commercial Real Estate Lawyers

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Commercial Real Estate Law in Pennsylvania

Commercial real estate is any form of land or structure in Pittsburgh, Pennsylvania which is utilized for business purposes, mainly the sale of goods and/or services to the public.

The laws regulating real estate in Pittsburgh, Pennsylvania apply differently when dealing with commercial, as opposed to residential, real estate.

Most of the protections that buyers and renters of residential real estate enjoy rarely apply to renters of commercial real estate.

For instance, commercial real estate normally isn't covered by rent control laws, nor does it carry with it an implied warranty of habitability (because people typically won't be living in it). Furthermore, it also doesn't come with a covenant of quiet enjoyment. However, some of the most basic legal protections (such as laws against fraud, and concealment of defects) apply in both the commercial and residential context.

Common Commercial Real Estate Law Issues in Pittsburgh, Pennsylvania

Financing: Most small business owners in Pittsburgh, Pennsylvania don't have the money to buy real estate with the cash on hand. Nonetheless, there is a solution to this problem, permitting 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 bought is used as collateral for the loan.

Concealment of Defects: if the seller of commercial property acts to conceal a significant defect in the property, and then sells the property, he will be accountable for any harm this defect cause, as well as the reduced value of the property, or the cost of repair.

Duty to Inspect: Buyers of commercial real estate are expected to be diligent, and a court will not reward a lack of diligence. Thus, 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: Undisclosed encumbrances are defects of another sort: defects of title. An encumbrance is any interest that a third party has in the Pittsburgh, Pennsylvania commercial real estate. These normally take the form of easements, which are rights held by third parties to use the land for a specific purpose. Easements can have profound effects on how a new owner can use the land, so it is essential to know about them before buying.

Can a Pittsburgh, Pennsylvania Attorney Help?

Because of the importance and potential complexity of the issues surrounding commercial real estate, it's almost always judicious that, before engaging in any real estate deal, you obtain the counsel of a good Pittsburgh, Pennsylvania real estate attorney.

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Life in Pittsburgh

Pittsburgh is known as "The Steel City" for the extensive steel trade that fed the city's economy through the 1970s. Some folks know Pittsburgh as "The City of Bridges" because it's positioned at the confluence of the Allegheny River and Monogahela River. The Allegeheny and Monogahela Rivers combine to create the Ohio River. The three waterways create the triangular shape of downtown Pittsburgh. There are more than 450 bridges within Pittsburgh city limits. Today, Pittsburgh is home to a number of high tech companies that specialize in everything from robotics and biotechnology to internet startups. Pittsburgh is home to a number of corporate headquarters who are responsible for many downtown skyscrapers. Tied for the 8th most Fortune 500 companies, Pittsburgh is home to PNC Financial, U.S. Steel, H.J. Heinz Company, WESCO Internations, Mylan Labs, CONSOL Energy, PPG Industries who supply paint and optical coatings, as well as Dick's Sorting Goods who operate over 408 national retail locations. Pittsburgh is a major manufacturing city but that doesn't mean they don't have world class entertainment and culture available. The Andy Warhol Museum, Carnegie Museum of Art, and the ArtGardens are just a few options that locals have. The Pittsburgh Symphony Orchestra calls Heinz Hall home. Heinz Hall also hosts a number of other concerts like Bruce Springsteen and other natural disaster aid concerts. The rap song "Black and Yellow" by Pittsburgh's Wiz Khalifa is one example of great local musicians. George Benson, Perry Como and Christina Aguilera all hail from Pittsburgh or Pitts suburbs. No wonder Pittsburgh is ranked consistently as "one of the most livable places in the United States."

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