When you’re in the process of securing your first or your next commercial property, your first move may be to connect with a real estate agent. They’ll have a handle on the commercial market and may be able to connect you with sellers before properties even hit the market, and while they are really good at the job they perform, are they all you need when it comes to securing commercial property?
A real estate agent is a great start, but it’s also wise to have a title professional in your corner when purchasing commercial property. In today’s blog, we explain why you shouldn’t leave all your title needs up to your real estate agent.
Why You Should Also Work With A Title Team
Most commercial real estate agents that we work with are fantastic, but there’s a good chance that they won’t be able to provide the depth of knowledge you need for specific title concerns during the course of your purchase. They’ll know what a title is and may have a passing familiarity with easements, encumbrances and other issues that could cloud a title, but it’s unlikely they have industry knowledge to ensure all your title needs are met.
Your title services team will leave no stone unturned when it comes to researching a property, discovering title defects and resolving any outstanding issues prior to closing. Since we also have the ability to offer title insurance on a property, we have a vested interest in ensuring there are no existing title issues. Insurance is a wonderful thing to have, but we all hope we never need it, and we’ll do everything we can to discover any potential title issues with your property ahead of closing.
Speaking of title insurance, that’s where the real value of working with a title services company comes in. As we mentioned above, your commercial real estate agent probably has some familiarity with titles and title insurance, but it’s incredibly unlikely that they know how to set you up with a policy based on the specific needs of your commercial investment. We know and are constantly reading up on the American Land Title Association (ALTA) endorsements so that we can create a policy tailored to your individual needs. Whether you need protection from specific environmental issues, potential ground pollution, shared use covenants or endorsements for specific land use, we’ll develop a title insurance policy that gets you exactly what you need without having to pay for coverage that doesn’t apply to your situation. We pride ourselves on helping clients build the exact policy for their needs while also saving them money in the process.
For more information about what types of services we can provide, reach out to the team at Commercial Partners today at (612) 337-2470.