Knowledgeable Representation for Your Real Estate Needs

Last updated on August 30, 2024

At the law firm of Lynch & Eatman, L.L.P., our commercial real estate attorneys provide sophisticated advice and representation to developers, property owners, commercial tenants and other parties in the Triangle and throughout North Carolina.

Our lawyers have extensive experience working with a considerable range of commercial real estate projects, including mixed-use developments, malls, shopping centers, big-box stores, office properties, restaurant properties, condominiums, apartment buildings and hotels.

Providing Experienced Guidance for Commercial Real Estate Projects

For more than three decades, the attorneys at our firm have played a key role in the growth of our region’s commercial sector. Our firm is regularly called upon to provide clients with a wide range of commercial real estate services, including, but not limited to, the following:

• Assisting developers with the acquisition of undeveloped land and existing projects
• Helping developers obtain zoning and land use permits and variances
• Coordinating private equity, institutional and HUD financing for development projects
• Representing developers and tenants in the drafting and negotiation of commercial leases
• Advising property owners on the sale of their land to real estate developers
• Negotiating forbearances, workouts and other foreclosure avoidance agreements

Our firm has a particularly extensive background representing retail developers. We provide legal guidance on development projects from beginning to end, advising clients not only on matters of real estate law but also on issues ranging from entity formation to taxation.

Frequently Asked Questions About Commercial Real Estate

Whether selling property, facing foreclosure or considering real estate investment, we can provide insightful answers to your questions and concerns. Get started with these FAQs.

What should I consider when selling my property to developers in The Triangle?

An early consideration is to ensure your property is zoned for the intended development by checking local zoning laws. Get a professional property appraisal to determine the fair market value and conduct environmental assessments to identify potential issues that may obstruct the sale.

The sale agreement should clearly outline terms like price, payment schedule and contingencies. Have a real estate attorney review and negotiate the contract to protect your interests. These steps help ensure you do not overlook anything in your efforts to sell the property.

What is a foreclosure avoidance agreement?

It is a legal arrangement between a borrower and lender in which they agree to prevent foreclosure. It may address:

• Loan modification: Changing loan terms to make payments more manageable.
• Forbearance: Temporarily reducing or pausing mortgage payments.
• Repayment plan: Establishing a plan to repay missed payments over time.
• Short sale: Selling the property for less than the outstanding balance with lender approval.

These agreements can provide relief while helping to ensure lenders recover their funds.

Should I buy commercial property with a company I own rather than personally?

Either option has advantages and disadvantages, requiring a frank assessment of your circumstances. How you intend to take title can be a crucial factor when acquiring property, especially in a commercial setting.

Holding title as an individual can expose you to significant liability, including for injuries that occur on the property. To mitigate these risks, many form an LLC to purchase and own the property, providing a layer of liability protection.

Possible disadvantages of buying through your company include increased legal obligations and potential tax burdens. A lawyer can help you choose wisely.

How do I negotiate forbearance agreements for commercial properties in North Carolina?

First, review your loan documents and ensure you understand the existing terms. Once you are familiar with your loan, prepare detailed financial statements demonstrating your need for forbearance. You should also propose realistic terms for repayment, such as a payment pause or temporarily paying lower amounts.

Our commercial real estate attorneys can negotiate on your behalf and make sure the agreement serves your interests and contains favorable terms.