This Page contains reprints from R. Kymn Harp, a leading commercial real estate attorney in Chicago, IL. He has also printed “Intent to Prosper, Vol. 1 Commercial Real Estate, available at finer book stores. (A link to Amazon is listed at the bottom of this page, and the book is bookmarked there for purchase.)
Lending Blind
What is “lending blind”? Lending blind is making loans secured by commercial
real estate without fully understanding the underlying commercial real estate
project and the collateral risks it presents. Lending blind is closing one’s eyes to
important legal, environmental and land use issues uniquely applicable to
commercial real estate and ignoring available risk-shifting techniques in the hope
or unfounded belief that if the issues are not carefully considered, maybe they
won’t exist. Read the entire article…..
Keys to Closing Commercial Real Estate Transactions
Anyone who thinks Closing a commercial real estate transaction is a clean, easy, stress-free
undertaking has never closed a commercial real estate transaction. Expect the unexpected,
and be prepared to deal with it. Read entire article…
DUE DILIGENCE CHECKLISTS FOR COMMERCIAL REAL ESTATE TRANSACTIONS
Are you planning to purchase, finance or develop any of the following types of
Commercial or Industrial Real Estate?
• Shopping Center?
• Office Building?
• Restaurant/Banquet property?
• Parking Lot/Parking garage?
• Retail Store?
To read the entire article, click here
In Praise of Commercial Real Estate Developers
Real Estate Developers are like Gods. [Well, miniature gods, at least.] They create
much of the physical world we inhabit. The homes and condominiums we live in.
The grocery store and pharmacy down the street. The resorts and casinos and golf
courses we enjoy for leisure. Restaurants. Shopping centers. Office buildings. Movie
theaters. Truck terminals. Medical and surgical centers. Spas. Factories. Warehouses.
Auditoriums. Parking garages. Hotels.
You name it; if its “man-made”, attached to dirt, and we can get inside it, a Real Estate
Developer was probably involved. Read the entire article…
The Time to Decide (when to start legal proceedings)
Commercial litigation, especially commercial real estate litigation, is in some respects
like roulette. Once your lawsuit is filed, the wheel is spinning. Unlike roulette, you may
still have a measure of control over the outcome — but you are in it until the ball drops.
To read the entire article, click here
10 THINGS EVERY BUYER NEEDS*
(*To Close a Commercial Real Estate Loan)
Sellers and their agents often express the attitude that the Buyer’s financing is the
Buyer’s problem, not theirs. Perhaps, but facilitating Buyer’s financing should certainly
be of interest to Sellers. How many sale transactions will close if the Buyer cannot get
financing? To read the entire article, Click here
POP QUIZ!
Paying extra attention at the beginning of a commercial real estate transaction to
“get it right” can save tens of thousands of dollars versus when a deal goes bad.
It’s like the old Fram® oil filter slogan during the 1970′s: “You can pay me now -
or pay me later”. In commercial real estate, however, “later” may be too late. To read the entire article, click here
GAINS RATE RISING
Section 1031 Exchange Basics
Before you follow the suggestion being made by some investors and advisors that you
should sell your appreciated real estate now, before the capital gains rate goes up…To read the entire article, Click here
Turning Brownfields Green
Government Money for You
Revitalization of brownfields is an urgent concern in many
communities. When the local community benefits, public money
may be available. In fact, in many cases public money is available.
You just have to know how to ask for it. To read the entire article, Click here
“IT AIN’T ROCKET SCIENCE” BUT. . .
YOU DO NEED TO KNOW WHAT YOU’RE DOING
Due diligence can be expensive. We need to avoid making it more expensive than necessary. To read the entire article, Click here
Before following any of the advice in any of these articles, or any articles, one should always consult their own legal counsel. Get an attorney well verses in commercial real estate transactions, it will save you money, grief, time, and wasted effort.
Key Wisconsin BrokerNET Links:
Wisconsin Department of Commerce
Cost of doing Business, compare across various Midwestern States
Interactive Map of Wisconsin County Economic Development Corporations
Agents and Brokers in Wisconsin
