Commercial Real Estate Practice Group

Hogue Hill Commercial Real Estate Practice Group

The Hogue Hill Residential Real Estate Practice Group provides services to clients engaged in all stages of commercial real property acquisition, ownership, financing, and sale, as well as gifting of commercial real estate and changes in form of ownership of commercial real estate. These services include formation of single purpose entities for commercial real estate transactions, contract review and brokerage agreement review in the context of brokered transactions, and contract and ancillary document preparation in the context of transactions involving property not listed with a broker, and advice to clients regarding financing, timeline, and contract terms, and issues which arise in the course of due diligence evaluations of the property. Post-contract services for buyers and services to owners in the context of financing (mortgage) transactions include title searches and opinions on title, typically rendered to title insurance agencies representing national title insurance companies which issue title insurance to owners and lenders. Purchase transactions include vacant lot or tract purchases, development tract purchases for commercial or residential development or for investment, and purchases of completed new construction and existing previously-constructed commercial improvements, and may be purchases of properties which are development tracts, outparcels in existing shopping center developments, and developed properties. We also are able to assist with direct purchase at foreclosure sales. Financing transactions include vacant lot mortgage loans, construction mortgage loans, and post-construction permanent mortgage loan transactions. We handle closing of conventional, SBA, and other commercial mortgage loans for our clients. Attorneys of the Hogue Hill Commercial Real Property Practice Group advise clients considering leasing of commercial real property, both in the roles of landlord or lessor, and of tenant or lessee, and we prepare and review commercial leases for our clients.

The Hogue Hill Commercial Real Property Practice Group includes attorneys Talmage Jones, Bill Lynch, and Jim Snow.

We recommend that purchasers of commercial real property obtain an environmental assessment. We recommend that purchasers of commercial real property consider the impact of utility easements and other encumbrances of the property on its development potential. We recommend that a survey by a registered land surveyor be conducted during the due diligence period before purchase of any residential real property to identify the location of property corners and the setback distances of improvements from property lines, and to identify any encroachments or easements which are visible on the ground but which may not be identified in a title search if not of record during the relevant search period. Encroachments may be of improvements to the property being purchased over the property line onto adjoining property or the public right of way, or into setbacks established under applicable zoning or under subdivision restrictions, or may be of improvements to adjacent property over the property line onto the property being purchased. Unless a survey is obtained and is provided to the title insurer, the owner’s policy of title insurance will include a general exception for all matters which would be disclosed by survey, and this is a much broader exception from coverage than a specific exception for matters shown on a specific survey; specific exception for survey is generally available only if a current survey is obtained and is provide to the title insurer. A survey is essential to evaluation of the development potential of commercial real property.

Attorneys, Wilmington, NC