Our Practice Areas
Real Estate
At Ser & Associates, we provide counsel for the acquisition, development, disposition, and leasing of commercial and residential property.
Whether it is your first home, retirement home, or even a vacation home, we are prepared to help.
Our services include negotiation and drafting of purchase/sale agreements––including leases, lien and title searches, review, and resolution of title issues. Regardless of whether it is commercial or residential, we assist both buyers and sellers in real estate purchases.
At Ser & Associates, we regularly assist clients throughout the entire transaction: From negotiating the real estate contract and executing the due diligence period, to closing and, if necessary, dispute resolution.
At the beginning of the real estate transaction, a buyer engages in due diligence, which is the process of investigating the physical status of the property along with matters that may affect its use or obtaining marketable title.
For residential property, it is usually a 15- to 30-day period, whereas for commercial property, it is commonly a 30- to 60-day period. There are a plethora of considerations during the due diligence period, and it is easy to feel overwhelmed.
At Ser & Associates, we guide our clients throughout the process to ensure that the right documents are properly reviewed, and that the right questions are asked before signing.
We guarantee a title search is performed to confirm that the chain of title is clean, and that the seller actually owns the property they intend to relinquish. A title search will also show whether there are any liens, or other encumbrances, that will affect the value and usability of the property.
For commercial real estate transactions, Ser & Associates will ensure an environmental inspection is performed.
For commercial buyers financing the property, this will most definitely be a requirement of the lender.
The purpose of this is to determine if there are any hazardous materials on or around the property that may threaten its suitability for use. We also confirm the property’s land use and zoning designations to authenticate that your new parcel of land can actually be used in the way you intended it to be.
At Ser & Associates, we are meticulous to ensure the client receives what they expected, which means executing a thorough lien search.
In addition to finding all, and any, encumbrances that have been recorded against the property, a lien search will also identify building code violations and/or open code enforcement actions that have not yet become a lien.
At Ser & Associates, we will guide and advise you until closing and even, if necessary, potential disputes.
“Closing” is the stage of the transaction where the buyer pays the sales price contracted for and receives the keys to the new property, whereas the seller receives the sale proceeds from the buyer and relinquishes possession.
Many documents, however, must be signed at closing to “seal the deal” to properly pass title and, if applicable, to obtain financing. Both the buyer and seller are responsible for certain documents to close a real estate transaction. When representing the buyer, Ser & Associates will assist the buyer in acquiring marketable title with all liens and other encumbrances cleared.
When representing the seller, Ser & Associates will ensure your interest in the property is properly extinguished, but of course, only after any, and all, mortgages are paid and the buyer’s funds are received.
It is important to know that if you intend to seek financing for the transaction, you will receive a Settlement Disclosure Statement (commonly referred to as a HUD-1) three days before closing so that you have plenty of time to review and confirm that the Good-Faith Estimate given to you by your lender matches the closing statement. If it does not, you will have ample time to discuss the discrepancies with your lender. If you do not intend to finance, then a draft Settlement Disclosure is typically released for a day (or two) prior to closing so that the parties may review and settle any issues.
At Ser & Associates, we also regularly assist clients with negotiating commercial leases.
This includes negotiation of terms related to the Common Area Maintenance (CAM) fees, rent structure (including flat rent or a percentage of gross income, and whether rent includes the landlord’s insurance and taxes), assignment, sublease, renewal terms, exclusivity, and termination.
Ser & Associates also helps its clients negotiate with landlords from a position of knowledge and confidence so that the client’s best interest is guaranteed.
