Commercial Real Estate Closings

Pearce Law Group Commercial Real Estate Closing Services

Helping Commercial Property Buyers and Sellers throughout Myrtle Beach | North Myrtle Beach | Conway | Carolina Forest | Murrells Inlet | Pawleys Island | Georgetown and the entire Grand Strand Area. Real Estate Agents, Title Companies and Lenders Love Working With the Pearce Law Group as their trusted real estate closing attorney.

Call us at 843-839-3210.

image shows commercial property with SOLD sign for commercial real estate closings in Myrtle Beach SC

Commercial real estate closings are much more involved than a residential real estate closing. While there is still a “buyer and seller” relationship at the core of the transactions, these roles are often filled by corporations or legal entities created specifically for the sale or purchase instead of two individuals. The buyer wants to preserve the right to withdraw from the deal as long as possible and the seller is trying to limit this right. Of course, the buyer wants to make sure the seller is on the hook for a problems that may arise after the sale. The seller is trying to cover all contingencies so that doesn’t happen.

While residential real estate closings usually involve living units, commercial real estate closings can range from a housing subdivision, restaurant,  manufacturing plant or buildings in a business park.

The Pearce Law Group’s commercial real estate team gets involved early with any title searches, land surveys, environmental impact studies, liens or other complicated title issues. The commercial real estate closing process is rarely a straight line to closing. There may be leases, tenants and deposits to consider, for example. Local zoning laws must also be taken into account as the buyer will expect zoning compliance for the property.

How long does a commercial property sale take?

A standard sale and purchase procedure can take between six to ten weeks to complete. Much of this time is spent conducting proper due diligence.

The commercial real estate closing checklist can include:

  • Fully Executed Purchase and Sale Agreement
  • Disclosures
  • Preliminary Title Report
  • Zoning
  • Natural Hazard Disclosure
  • Environmental Investigation
  • Hazardous Material Survey
  • Building Physical Inspection
  • Survey

  • Wells/Septic
  • Termite
  • Utilities
  • Appraisal
  • FIRPTA Affidavit
  • Bill of Sale
  • UCC Search
  • Insurance
  • Closing Statement
  • Agreements Assigned to Buyer or Terminated at the Close of Escrow
  • Tenant Estoppel Certificates

Please contact The Pearce Law Group for assistance with your commercial real estate closing.

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