Real Estate Transactions
We represent buyers and sellers in both residential and commercial real estate transactions. We have assisted our clients with the acquisition, development, leasing, financing and disposition of commercial, industrial and residential projects, including office buildings, apartment complexes, shopping centers and residential subdivisions. We represent developers, owners, lenders, buyers, sellers, investors and landlords, in every facet of real estate and land use matters.
Commercial & Industrial Real Estate
GHH attorneys have assisted clients with numerous and substantial commercial and industrial real estate transactions, including purchases, sales, mortgage financing, re-financing, and like-kind exchanges. We have been involved in commercial transactions involving commercial office buildings, industrial sites, user-occupied buildings, farmland and timberland.
In all real estate transactions, the attention to details and protection of the client’s interest is important. In complicated commercial and industrial real estate transactions, the attention to details and prompt responses to issues is paramount.
Other real estate related activities include:
- Lease agreements and lease negotiations.
- Land Development and subdivision.
IRC Section 1031 Like-Kind Exchanges
Tax-deferred exchanges were first introduced in 1921 allowing owners of investment property to defer the payment of capital gains tax associated with the sale of these properties. This procedure is outlined under Internal Revenue Code Section 1031, and involves a series of rules and regulations that must be met in order to take full advantage of this great tax benefit. Like-kind exchanges are also commonly referred to as any of the following terms:
- Delayed Exchanges
- Tax-Free Exchanges
- Starker Exchanges
- Nontaxable Exchanges
As the Qualified Intermediary and attorneys assisting with a like-kind exchange, we will guide the client through each step of the way through the like-kind exchange, including the following steps and legal issues:
- Qualifying like-kind exchange property.
- Identifying the exchange property.
- 180-day time period for closing on exchange property.
There are several types of like-kind exchanges available, each of which has a different result.
- Delayed Exchange
- Simultaneous Exchange
- Improvement Exchange or Build-To-Suit
- Reverse or “Starker” Exchange
Residential Real Estate
Selling and Purchasing a Home. Selling or Purchasing a home has become increasingly complicated and requires a careful attention to details.
With a home purchase, we will frequently assist with the following issues:
- Preparation or review of the Purchase Agreement and related Disclosure Statement.
- Obtaining adequate financing through banks, mortgage companies, possible seller financing, and PHFA, FHA or VA financing.
- Conduct a proper title search to assure you will receive proper ownership, and procure title insurance, if necessary, to protect your interests.
- Review deed and mortgage documentation.
- Preparation of Settlement Sheet and conduct settlement.
When selling a home, we will frequently assist with the following issues:
- Review real estate agent listing agreement, if appropriate, and discuss exclusive versus non-exclusive listing agreements.
- Preparation or review of the Agreement of Sale and related Disclosure Statement and Lead-Based Paint disclosure, if necessary.
- Discuss possible seller financing.
- Preparation of deed to buyer.
- Assist buyer with the Settlement Sheet and to review documents prior to seller’s signature.