If you are buying or selling commercial property, this is most likely not your first rodeo, but it may be your first in South Carolina. Our Real Estate Department wants to make the commercial closings process as simple and stress free as possible for you; therefore, we review and explain all documents thoroughly. Leading up to the closing we stay in constant communication with the realtor or business broker, lender, title insurance companies, insurance agents, and you. It is our goal to make this process as pleasant as possible and we take our job seriously.
When signing a commercial contract you will want to be sure to ask yourself four questions:
- when do I want to open the property for business;
- how long will my planned renovations take to complete;
- how long will it take the bank to approve and provide loan documents to my attorney;
- does the property meet all necessary state, county and city requirements for zoning, environmental, etc;
- how long will the title search take to ensure I have good title to the property. Timing is critical when scheduling the transaction. Please obtain an attorney before signing the Purchase Agreement so that she may assist you in addressing all potential issues.
Recording: After you have signed all the documents required by your lender and attorney, your attorney will obtain the Deed from the Seller’s attorney. We then do a final check on the title of the property and record both the Deed and Mortgage on your behalf. Once recorded, the property is yours! We then disburse all funds on your behalf to the seller and other parties whose invoices were listed on the settlement statement.