Lawwise.ca - Purchasing a Commercial Property (No review yet)

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Expert Commercial Property Real Estate Lawyer in Ontario

Costs of a commercial real estate lawyer in Ontario have been escalating rapidly over the last decade. In many cases, buying properties make economic sense over renting them. As a commercial property owner, you will enjoy appreciation in the property price along with zero rent hikes.

Purchase of commercial real estate property in Ontario tends to be more complicated than residential property transactions. Due diligence needs to be exercised at every step for buying a commercial real estate. There are many factors involved which are not present in the residential property purchase. Lack of adequate planning can lead to unscheduled costs, insufficient financing and potential environmental and other issues with off title searches including zoning, building and fire code compliance.

Due Diligence
Whether you choose to deal with commercial real estate property, retail, industrial, mineral and agricultural property, make sure that the Commercial Real Estate Lawyer you select has expertise in the given area. They should do detailed title searches to make you aware of the existing encumbrances on the title such as by-laws, the right of way, easements, site plan control agreements, subdivision agreements, restrictive covenants. Off-title searches are also done which include hydro one, conservation authority, fire department, building department, zoning and much more. Unpleasant surprises are minimized at closing time if the above searches are performed. It also allows you to make informed decisions.

Similarly a purchase from a corporation will involve searches against the corporate status and bankruptcy. Authorization status for sale should also be confirmed with the vendor corporation.

Title Review


In every commercial real estate transaction, the title of the property is investigated and reviewed. All agreement matters are also analyzed to be correct as per their representation. It is recommended to consult a Commercial Real Estate Lawyer before starting ne

Category: Finances