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Whether a person is buying or selling, a Coral Gables real estate finance lawyer could connect buyers with lenders, assess potential risks, and negotiate the final contract on an individual’s behalf. A real estate attorney understands the complexities of state real estate laws and could explain various financing options, such as commercial or residential loans, mezzanine financing, or refinancing.
The role of a lawyer varies between commercial and residential real estate financing, with commercial transactions centered around financial negotiations and residential transactions focused on legal issues related to the property.
When buying or selling commercial real estate in Coral Gables, it is essential to consult a real estate finance lawyer to ensure proper due diligence. Real estate law firms, such as Jacqueline A. Salcines, P.A., work to facilitate communication between lenders, buyers, and sellers. Legal counsel could also explain conventional and non-conventional financing options to help you make an informed decision.
Our attorneys are familiar with real estate issues, such as environmental concerns and fraud scams, and could provide legal advice to protect your investment. They could draft and review contracts, negotiate final terms and conditions, and represent you at closing.
Although individuals purchasing residential property do not have to hire a real estate attorney, they may want to consider working with a real estate law firm to ensure peace of mind. For example, it is important to have a clear title if you are purchasing a property. An attorney could perform a comprehensive title search to ensure there are no liens or encumbrances. If a problem arises, they could work to resolve it to help the purchase move forward.
A real estate finance lawyer could explain various financing options and help you determine the most advantageous option for your case. They could review purchase and sales agreements and assist with closing and escrow. If needed, they could participate in contract negotiations and investigate any potential legal concerns that could impact the property.
Don’t go it alone – the legal team at Jacqueline A. Salcines, P.A. is here to help you find the right financing option for your case.
Mezzanine financing often serves as a bridge loan for individuals or organizations looking to fund specific projects or acquisitions. Although this funding is unsecured, lenders have the right to acquire an equity interest in the property if the borrower defaults. This type of financing allows companies to purchase or develop property not covered by senior debt.
Mezzanine financing combines both traditional debt and equity financing. It appears on balance sheets as equity and does not dilute ownership. However, these loans carry high interest rates. Monthly payments may only cover interest, with the total amount due at the end of the term.
Warrants are additional benefits added to mezzanine financing to make the loan more appealing to lenders. They can be exercised independently of the loan. Before entering into a mezzanine loan agreement, individuals in Coral Gables should consult a real estate financing lawyer to review the loan’s terms and conditions and negotiate favorable terms.
Real estate purchase agreements often require renegotiation due to changes in circumstances, such as the need to consolidate debt payments. If you are having difficulty making payments, you should speak with your lender or contact Jacqueline A. Salcines, P.A. A real estate finance attorney in Coral Gables could explain your options and negotiate with lenders to create a workout agreement that allows you to pay off the past-due balance over time.
Buying or selling real estate in Florida can be overwhelming. Commercial properties undergo zoning changes, tax abatements, and environmental regulations, requiring careful investigation to ensure they meet the buyer’s needs. If you are looking for residential property, reach out to a Coral Gables real estate finance lawyer today for peace of mind.
Jacqueline A. Salcines
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