When it comes to commercial real estate litigation, there are many steps and precautions that can be taken to minimize risk. Avoiding legal disputes when acquiring property is a priority for buyers, sellers and landlords. Many instances of commercial real estate litigation in Arizona can be avoided. Here’s a simple guide to help you.
There are several common causes of real estate litigation such as:
- Failing to disclose property defects
- Failing to abide by contractual obligations
- Failing to perform necessary action
- Boundary and title disputes
These common issues can be avoided if proper measures are taken. Below are examples of steps to take to minimize the risk of commercial real estate litigation.
Do Your Due Diligence
Due diligence in commercial real estate is everything from vetting the seller to tenant screening. Be sure to do your research not only on the property itself, but also on the company or individual putting it on the market. Understanding and honoring contractual obligations, along with evaluating the seller’s previous transactions and legal actions will help prospective property buyers protect their potential investments.
Should commercial real estate owners find themselves in a dispute, having kept their prior correspondence and other documents can assist with keeping the process smooth and potentially even deescalate a dispute. In other words, maintaining a solid paper trail will assist in avoiding or limiting litigation.
Decide If You Need Legal Support & Be Proactive
Ignoring potential problems with buyers or tenants will not eliminate the issue. Instead, be proactive when it comes to resolving complaints. Communicate openly and try to resolve the dispute without getting a litigator involved. However, should further action become necessary, decide quickly if you are in need of legal support. Having a qualified real estate lawyer on hand will speed up the process if advice or action is needed later.
Negotiate When Needed and Take Advantage of Arbitration
Sometimes, negotiating can accomplish goals much more quickly than getting the court system involved. Make sure that you and any staff or assistants can help with negotiating through a dispute. Face to face meetings and regular communication (known as alternative dispute resolution) can be effective, along with more formal methods of mediation or arbitration. Use your valuable time productively, and then you’ll be able to focus on more important aspects of buying and selling your commercial real estate.
Find An Experienced Arizona Commercial Real Estate Litigation Attorney
The attorneys at MacQueen & Gottlieb have significant experience with commercial real estate litigation in Arizona. Our attorneys can assist you with any issues and help you understand your rights. If you anticipate a lawsuit, our attorneys can assist you in protecting your reputation and business. Contact us today at (602) 726-2229 to schedule an initial consultation or make an appointment online.