The Devil’s in the Details: How to Protect Yourself in Commercial Contracts

 

Seth Weissman

ATLANTA, GA– While writing commercial real estate contracts is the job of lawyers, all industry professionals and investors should be well versed in how to craft sales agreements that protect their interests and investments.

 That was one of the points driven home in the most recent episode of the “Commercial Real Estate Show” radio program, hosted by Michael Bull of Bull Realty.

The episode, for which Bull was joined for the entire hour by Seth Weissman, a partner with the Weissman Nowack Curry & Wilco law firm, provided an enlightening look at the many issues surrounding the creation of commercial real estate contracts and outlined numerous pitfalls for both buyers and sellers to avoid.

Michael Bull

Topics included earnest money, termination notices, title insurance and due diligence.

 Too often, buyers and sellers draft their own contracts and write them in such a way that they’re not legally enforceable, Weissman said. Furthermore, buyers and sellers should not rely on verbal agreements to handle any component of a transaction.

 “Basically what our courts do when there is a real estate dispute is, they look only at the four corners of the contract,” Weissman said. “No one is going to be asking, ‘Well, what was your verbal discussion?’ If it’s not in the contract, it doesn’t count.”

 The entire episode on commercial real estate contracts is available for download at www.CREshow.com. The next “Commercial Real Estate Show” will be available April 4 and will provide an update on the U.S. hotel and lodging market.

 For a complete copy of the company’s news release, please contact:

Stephen Ursery

The Wilbert Group

E-mail: sursery@thewilbertgroup.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.thewilbertgroup.com