FAQ
Frequently Asked Questions
What legal issues arise most often in commercial real estate transactions?
Common issues include title defects, environmental conditions, zoning compliance, financing contingencies, due diligence gaps, lease encumbrances, and undisclosed easements. Devon Warner III conducts thorough due diligence on every commercial transaction to surface and resolve these issues before closing.
Do I need an attorney to negotiate a commercial lease in Los Angeles?
Commercial leases in California are largely unregulated compared to residential leases โ meaning landlords often present extremely one-sided agreements. An experienced attorney can negotiate key terms such as rent escalation clauses, CAM charges, personal guarantee scope, assignment rights, and termination provisions that can significantly affect your long-term costs.
What is due diligence in a commercial real estate transaction?
Due diligence is the investigation period following an accepted offer during which the buyer examines the property and all related documents. This includes reviewing financial statements, leases, environmental reports, zoning, title, permits, and inspection reports. Warner Legal Group manages and coordinates the due diligence process to ensure nothing is overlooked.
How long does a commercial real estate transaction take to close in California?
Commercial transactions typically take 45 to 90 days to close, though complex acquisitions may take longer depending on financing, environmental review, title clearance, and due diligence findings. Devon Warner III works to keep transactions on track while ensuring all issues are properly resolved before close of escrow.
What is a purchase and sale agreement in commercial real estate?
A commercial purchase and sale agreement (PSA) is the binding contract between buyer and seller. Unlike residential contracts, commercial PSAs are often heavily negotiated and can be dozens of pages long. Key provisions include purchase price, deposit, due diligence period, closing conditions, representations and warranties, and remedies for breach. Warner Legal Group drafts and negotiates commercial PSAs to protect your interests.