We have a nearly combined 30 years of multi-state real estate and business/commercial expertise, dealing with real estate in all facets. We have a track record of winning. Together, we have both closed hundreds of millions of dollars in real estate. We are deal getters and deal makers. We are intimately involved and work relentlessly in every step from contract to close.
Our representation is not just the transaction – our goal is to always build and maintain the relationship, and improve your portfolio with unique ideas and opportunities. No one can network like us, and no one will outwork us. This is the number one thing we bring with us from Chicago. We have a rustbelt hustler mentality, and we are bringing that work ethic with us to Nevada.
The commercial real estate process from contract to close in Nevada typically involves several key steps. It's important to note that the specifics can vary based on the complexity of the deal, the type of property, and the parties involved. Here's a general outline:
Throughout this process, it's common for real estate professionals, attorneys, and other experts to be involved to ensure a smooth and legally compliant transaction. It's crucial for both buyers and sellers to work closely with professionals who understand Nevada's commercial real estate laws and regulations.
Several common due diligence issues can arise during a commercial real estate deal. These issues often vary based on the type of property, its location, and the specific terms of the deal. Here are some general due diligence concerns:
Insufficient property maintenance or needed repairs can impact the property's value and operational efficiency.
Potential contamination or environmental hazards on the property may require further investigation and remediation.
Zoning restrictions and land use regulations can affect the property's intended use and development potential.
Unresolved title disputes, liens, or encumbrances may affect the transfer of ownership and create legal complications.
Scrutinizing existing leases for any undisclosed tenant issues, unmet obligations, or potential lease disputes is crucial.
Analyzing the property's financial records, including income, expenses, and projections, is essential to assess its financial health.
Changes in the local real estate market, economic conditions, or neighborhood development plans can impact the property's future value.
Ensuring compliance with building codes, ADA requirements, and other legal regulations is vital to avoid legal issues down the line.
Reviewing insurance coverage, understanding potential risks, and assessing the need for additional coverage is crucial.
Evaluating the stability and creditworthiness of existing tenants is important to gauge the property's income stability.
Examining existing contracts related to property management, service providers, or maintenance agreements is necessary.
For development projects, issues related to permits, approvals, and construction quality must be thoroughly investigated.
Navigating these due diligence issues requires collaboration among various professionals, including real estate attorneys, environmental consultants, property inspectors, and financial analysts. Conducting comprehensive due diligence helps mitigate risks and ensures a smoother commercial real estate transaction.
Michael and Shekar are relentless networkers, and have put together a system for you to work with the best of the best. From using the right title company to ensure smooth, clean and clear title transfer to advising on all other aspects of Due Diligence, our team will have you covered and ensure that you are working with the best in the industry.
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We pride ourselves in providing personalized solutions that bring our clients closer to their dream properties and enhance their long-term wealth.