Real Estate - Commercial:Buying and selling of any property, which is concerned with business activities such as office buildings, hotels, shops etc is termed as commercial real estate. If you want to buy a building for your business activities, before buying such property, you have to analyze whether your business will grow if you buy that building in that particular area. Before buying such property if the seller grants you a period of time to purchase the property, you can pay the option fee to the seller and make a written agreement with the seller that you would buy the property within the stipulated period of time. It is safe to put an agreement with the seller, because it acts as a shield and protects you from the third party from buying or selling it. You can buy the building for your own business activities, or you may buy for leaving rent. The intended purpose for running your business must be permitted under the local zoning ordinance. If your intended purpose is not served, it becomes difficult for you to start the business. In order to sell or buy a property the buyer and the seller of the commercial estate have to approach the real estate broker or agent. Consult a Real estate attorney to solve any disputes as to the buying and selling of the commercial real estate is concerned. Real Estate Broker or Agent:A real estate broker or agent is a person who finds a buyer for a seller, if a person wants to sell his property and a seller for a buyer, who wants to buy a property. You have to make an agreement with the real estate agent or broker. Once the real estate broker finishes his job he gets a commission from the seller for the sale of his land. In some commercial real estate agreement, the buyer and seller agree to share the broker’s fee. If the buyer or the seller defaults to pay the broker commission as per the agreement the real estate broker can enforce his commission as per the procedures of law. Real Estate and Shopping Center:If you buy a shop in the shopping center, you should know that you have to pay part rent and part taxes for any common area belonging to the complex, which is shared among the other owners of the complex. |
