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What you should do before you purchase new commercial real estate

Buying real estate doesn't have to be difficult, but you should make sure to follow the right steps. By taking time to get to know the property and what you want in commercial real estate, you can make a better decision when purchasing.

Remember to ask yourself a number of questions before buying. What kind of property do you want? How big should it be? Are you going to look to rent part of the property, or do you want it all for your own business? Should you be buying or leasing the property? These are all important things to consider.

Visit many properties before you decide on one you want to lease or purchase. Each one may have its own quirks, benefits and pitfalls. The amount of work you want to put into the property may affect which property you want to buy or lease. The location may also play a role in your decision; if you're opening a store, you want to be close to busy roads or intersections, not in the middle of nowhere, for example.

If you are ready to make an offer on a property, your attorney should be there to help you. Contracts are legally binding, so it's important to know exactly what you're signing. Our website has more information on the steps you need to take to protect yourself when you're ready to make an offer on a property. This is a big step toward your future, so it's wise to take as much time as you need before you make this life-altering decision.

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