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Boston Commercial Real Estate Market is Up

Bostonians have a lot to be thankful for this weekend! At least as it relates to real estate, they do.

Boston’s commercial real estate market is leading the real estate comeback, nationally, reports The Boston Business Journal.

According to the Business Journal, Boston’s commercial real estate prices are heading back up to the same levels they were at during the peak, back in 2007.

That’s great news for real estate speculators and investors.

Boston is said to be the strongest commercial real estate market in the country, according to Moody’s Investor Service, the Business Journal says.

New York and San Francisco follow Boston,

With the rising prices, it appears that commercial real estate might be on the move again, with investors placing high-value property on the market.

For real estate lawyers, this means that deal work is underway.

Commercial real estate purchase agreements and commercial leases are far more complicated than the average residential agreement. They come with pages and pages of disclosures, conditions and items.

A commercial purchase and sale agreement is by no means a DIY type of legal agreement. For starters, attorneys comb through the dates in the agreement, outlining the deadlines for responding to clauses and confirming conditions. Once the dates are determined, the attorneys need to take a look at those conditions and clauses — which often means reviewing various disclosures — before signing off on them.

That’s where it could take a lot of time. The disclosures are key. That’s where the details and condition of the property are explained. Any omission or oversight here could be very costly.

If you decide to enter the thriving commercial real estate market, check in with a Boston real estate lawyer. See our related resources below for a list of Boston real estate lawyers.

Related Resources:

  • Find a Boston Real Estate Lawyer (FindLaw)
  • Elizabeth Warren’s Contributions to Mortgage Reform (FindLaw’s Boston Real Estate Law News)
  • Must a Mortgage be in Writing? (FindLaw)