North Myrtle Beach Commercial Real Estate Lawyers

Find the right Commercial Real Estate attorney in North Myrtle Beach, SC

Commercial Real Estate Law in South Carolina

Commercial real estate is any form of land or structure in North Myrtle Beach, South Carolina which is utilized for business purposes, mainly the sale of goods and/or services to the public.

The laws regulating real estate in North Myrtle Beach, South Carolina apply differently when dealing with commercial, as opposed to residential, real estate.

Buyers and renters of residential property enjoy some pretty considerable 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 include implied warranties of habitability, rent control, and covenants of use and quiet enjoyment, among numerous others. Of course, the most general protections, such as prohibiting the seller from actively concealing defects, apply to both.

Common Commercial Real Estate Law Issues in North Myrtle Beach, South Carolina

Financing: Most small business owners in North Myrtle Beach, South Carolina 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.

Duty to Disclose Defects: It is of the utmost importance that sellers and lessors of commercial real estate be up front about any defects that might be present in the property. Failing to disclose them can be bad, and actively concealing them can be much worse. In general, if a defect is significant enough that it would influence a reasonable person's decision to buy a piece of property, and the seller knows about it, the seller should disclose it. Failure to disclose can have significant outcomes. If the buyer later discovers the defect, they can sue for the cost of repairing it, or for any reduction in the property's value caused by it. And, of course, if it causes any injuries, the buyer can sue the seller for those, as well.

Duty to Inspect: While buyers of real estate have some considerable protections with respect to defects, they also have some obligations. Before finalizing a purchase, buyers are expected to undertake a reasonable inspection of the property, usually by using a licensed building inspector. If the buyer fails to conduct an inspection, they normally won't be able to successfully sue, if defects are discovered after the purchase.

Encumbrances: These are defects to title, rather than physical defects. They are legal issues which might make it challenging or impossible for a landowner to make full use of their land. In North Myrtle Beach, South 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 set 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 North Myrtle Beach, South Carolina Attorney Help?

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

Talk to a Real Estate Law Attorney now!

Life in North Myrtle Beach

North Myrtle Beach, South Carolina is a city located on the Atlantic coast, on Horry County. As of the year 2000, North Myrtle Beach has a population of about 11,000 people.

The area now comprising North Myrtle Beach, South Carolina was first explored by Europeans when the Spanish reached the area in 1514. Blackbeard's pirates set up camps and outposts in the area in the 1700s, contributing to the area's storied history.

North Myrtle Beach is a very popular resort town, serving tens of thousands of visitors each year.

North Myrtle Beach is right on the Atlantic coast, and features miles of beautiful beaches, and warm waters for swimming in during the summer months.

Needless to say, tourism is a crucial component of the economy of North Myrtle Beach, South Carolina. There are many businesses in the city that support the tourism industry, including hotels, restaurants, and souvenir retailers.

If you live in North Myrtle Beach, South Carolina, and need an attorney, it's very likely that you'll be able to find one who's right for you. North Myrtle Beach, South Carolina lawyers can handle just about any legal issue they're faced with. If you need legal advice, you should contact a North Myrtle Beach, South Carolina lawyer immediately.

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