Vernon & Salmon Arm Commercial Real Estate Lawyers

Whether you are looking to invest in an apartment complex, purchase a small building for a burgeoning business, or complete the sale of a large industrial complex, commercial real estate transactions are unique from buying or selling a home or cottage. These transactions require extensive considerations relating to potential zoning restrictions, environmental factors and more. The commercial real estate lawyers at CM Lawyers are familiar with the specifics of commercial real estate matters and will help to safeguard your interests and minimize risk in every transaction.  

Professionalism Without Pretension: Approachable Commercial Real Estate Services

CM Lawyers provides a range of real estate services to our commercial clients, including:

• Contract of Purchase and Sale drafting and review;
• Title Review;
• Mortgages;
• Commercial Leases; and
• Advising on commercial tenant disputes.

With over 50 years of combined experience in business law and real estate law, the commercial real estate lawyers at CM Lawyers have the depth of knowledge needed to handle any commercial transaction with skill and careful attention to detail. You won’t see excessive formality at our firm, but we take our duties and responsibilities as your lawyer seriously. We pride ourselves on our ability to anticipate and address potential issues in a commercial real estate transaction well before they pose a serious problem.

Detail-Oriented, Tech-Savvy Commercial Real Estate Assistance

Our lawyers are meticulous and efficient with commercial real estate closings. Whether serving an independent investor looking to purchase property for income generation or a national corporation acquiring or divesting a large-scale development, our lawyers handle the necessary due diligence to avoid costly issues with skill and out-of-the-box thinking.

Our firm is technologically advanced, with a system that allows for efficient information exchange between lawyer and client. The advanced work demanded by a commercial transaction requires research, searches, professional reports, property assessments, and more. We greatly value our clients’ time and convenience and prioritize efficient and hassle-free resource sharing.

Considerations for Purchasing & Selling Commercial Property in B.C.

Our clients range from small and large commercial entities to individuals seeking to capitalize on the current housing market in B.C. by purchasing income-generating residential properties. Our lawyers have extensive experience in all levels of commercial property transactions, no matter the complexity.

Purchase Transactions

When purchasing a commercial property, the most significant consideration is providing adequate time to complete the necessary due diligence. The specific due diligence required will often depend on the type of building and the proposed use but will often include some or all of the following:

• Obtaining an environmental assessment report;
• Obtaining a building condition assessment;
• A thorough review of applicable zoning regulations and municipal bylaws;
• Obtaining municipal development permits;
• Investigating the heritage and landmark status of the property;
• A review of the title to the property;
• Ensuring any existing commercial tenants; and
• Making financing arrangements with the lender for the closing of the transaction.

Our skilled real estate lawyers will ensure there are no outstanding issues with respect to the property prior to closing, maximizing the profitability potential and the return on investment for business owners and shareholders.

Sale Transactions

The biggest liability exposure for a seller of commercial property is with respect to the various representations and warranties the seller may make in the Purchase Contract.

When acting for the seller in a commercial transaction, our key priority is to protect their interests by limiting the representations and warranties outlined in the contract, therefore reducing their exposure to potential expenses and/or litigation post-closing.

Tenanted Properties

Additional factors must be considered when selling a property with residential tenants, such as an apartment building. If the new owner plans to make a different use of the property, such as converting the units to strata (condominium) units or conducting extensive renovations, they may request the seller provide notice to the existing tenants their tenancies will be terminated. Tenants have the right to adequate notice and compensation in such situations. The terms of when the notice will be delivered and who will bear the costs of the compensation will be negotiated between the buyer and seller in advance.

Contact CM Lawyers in Vernon & Salmon Arm for Comprehensive Commercial Real Estate Advice

The real estate lawyers at CM Lawyers are experienced professionals with extensive backgrounds in real estate and business law. Our firm has handled commercial transactions of all sizes and levels of complexity. We provide fastidious attention to detail and forward-thinking solutions in all types of commercial transactions while putting a premium on our clients’ time and convenience.

To schedule a confidential consultation with the real estate team at CM Lawyers, you can call our Vernon office (250) 308-0338 or Salmon Arm office (250) 803-9171 or contact us online. We proudly serve clients throughout the surrounding areas, including Shuswap and Northern Okanagan.