Practice corner – Real estate

We’ve all read stories in the press over the last several years, that the bottom fell out of the real estate market. We’ve seen for ourselves how real estate values have dropped, and how properties have been taken over by banks, either through formal foreclosure or a borrower’s surrender. Sad stories abounded.

But recently, we’ve probably all seen stories related to a come-back in the real estate market. Values are increasing, sales are occurring and occupancy levels of commercial space are rising.

What does this all mean? You might benefit from a real estate transaction. If your business could use better, more usable space, or more permanent space, this may be the time to act. If you have money to invest, you might consider purchasing real estate or a bank’s position in a mortgage loan on real estate.

Banks are telling their customers that they are ready to lend on real estate transactions and, while there was certainly a period of time when this was true, we have seen evidence that the tide may have turned and strong deals are desirable.

If you are contemplating a real estate transaction, purchase, sale or lease, please contact FOS early in the process. We can assist you with the letter of intent, brokerage contract, terms of purchase or lease.

We can assist with due diligence, contingencies and getting the contract right, so that you understand what you’re buying or leasing and what opportunities and risks may be present.