Rochester, NY · Member since 2017 · 24 posts · 8 votes
Hello everyone,
My brother and I are working on a commercial property deal in Western NY, the buyer will most likely be an out of state investor. This will be my first deal & my brothers first commercial deal (he's also out of state). I'm going to be reaching out to closing attorneys to not only close the deal but also make sure our contracts are solid.
Was hoping you guys could give me some tips on what questions to ask or what information to look for while interviewing them? No only that but things to look out for when dealing with closing attorneys/title companies in the commercial property realm?
BiggerPockets has always been a great source of information for me so I thank you guys in advance.
Attorney · New York City, NY · Member since 2020 · 18 posts · 5 votes
6y
@Jacob Rivera - based on your post it seems like you have contracts out to the buyer already? Is that the case? Who did you use to draft the sales contract?
Rochester, NY · Member since 2017 · 24 posts · 8 votes
6y
We met with the seller today to get a better idea of what he's look to get out of the deal, the condition of the property, how fast their looking to sell etc. At the same time my brother has developed relationships with buyers who are interested. Being that he's out of state and this property is in my state of NY we're looking for title company/closing attorneys that are familiar with these kinds of deals. The contracts we currently have are the ones my brother has been using in Texas for residential deals. I doubt they'd fly here.