Real estate is defined as land plus anything permanently fixed to it. This includes structures such as buildings, barns, sheds, etc. Purchasing real estate is one of the most important purchases an individual or business will make. As with any significant decision, it is wise to ensure you are aware of all options and possible downfalls of your decision.
Real estate is often grouped into three categories: residential, commercial and industrial.
Residential real estate deals with homes, townhomes, condos, etc. Residential real estate matters are most commonly handled by a real estate agent and closing company.
Commercial real estate concerns transactions involving places of business such as stores and office buildings. These transactions are often much more complex than residential transactions and therefore almost always involve real estate attorneys.
Industrial real estate involves properties that are used for manufacturing or producing a product. These properties are most commonly owned by businesses and usually have special tax and environmental requirements that must be met.
It is wise to speak with an experienced real estate attorney prior to executing any real estate documents.