We take the complexity out of buying a commercial property

As a business lawyer and real estate lawyer, Tarunjeet Gujral has the right combination of skills and experience to help you successfully navigate commercial property matters. You may enlist the help of Gujral Law Professional Corporation in Mississauga, Ontario, for a wide variety of issues associated with your business and its property. While not a legal requirement, it is always a good idea to consult with us before making an official purchase. 

How soon into the process should I contact you? 

The sooner, the better. Ideally, we’ll need to draft, review, and negotiate the purchase offer. We understand the technical aspects of the real estate purchase process and documentation. We ensure terms within the documentation protect your rights and do not lead to costly and permanent mistakes. For instance, as part of this step, Tarunjeet Gujral reviews the clauses and establishes contingencies related to financing, inspection, and zoning to protect your interests. 

What happens post-offer?

Our team also performs due diligence. We conduct a broad-ranging “investigation” of the property to ensure no liabilities are present that could be a significant risk to your business. At this stage, we may uncover surprises, such as liens, unpaid taxes, and water or utility arrears. In addition to performing title searches, Tarunjeet Gujral can confirm that the property is properly zoned/legally permitted for your intended business use. During this step, our team assesses environmental concerns that might require remediation. If existing tenants are involved, we also review their leases to clarify your future obligations as a landlord. 

How do you assist if financing is involved? 

Commercial financing/mortgages are often substantially more complex than residential mortgages. As real estate lawyers, we understand the nuances of various financing arrangements. We review even the most complex loan documents to ensure that the terms are in your favour and are feasible. Think of us as the intermediary between you and your lender. After all, you have a business to run. Let us do what we do best: handle all the documents necessary to secure your mortgage. 

Will I need title insurance? 

If your purchase is financed, your lender will generally require title insurance. This policy is an important legal protection. It reduces your business’s exposure to risks like title fraud and survey errors. Additionally, commercial policies may be customised to manage risks specific to your property (like easements or specialised environmental hazards). 

What is involved at closing? 

At closing, we handle the exchange of legal documents and the transfer of funds. We also prepare and register the deed and ensure the transaction is finalised. In addition, we calculate and satisfy applicable Land Transfer and GST/HST tax obligations. Gujral Law Professional Corporation is also here in Mississauga, ON, to help with post-closing matters, such as proper notifications to existing tenants regarding the change of ownership. From the pre-offer stage to post-closing and beyond, we are legal partners to manage your business’s risk and to support its success. Phone (647) 957-8077 to speak with a member of our team today.