Commercial and industrial real estate transactions can be complex and require a high level of knowledge and skill in the commercial real estate industry. For commercial and industrial developers in Austin, TX, a title company can provide the assistance you need to help these transactions go smoothly.
An Austin, TX title company specializes in the commercial and real estate transaction process and can provide assistance with forms that will need to be completed as well as helping you through all the necessary application processes.
There are many real estate terms that may be confusing to buyers who are new to commercial and industrial real estate. Your title services professional can help you by explaining more about any of these real estate terms that you do not understand such as:
* Escrow Agreement – The escrow agreement is the contract written between the buyer and the seller of commercial or industrial real estate which explains the obligations of the seller and buyer, as well as the required funds that must be deposited into an escrow account to cover expenses of the sale.
*Industrial Property – Industrial property is a commercial property used for manufacturing, production, or distribution purposes.
*Security Deposit – This is the payment in a rental arrangement that is made to the owners of the property which will secure your lease. When the lease ends, you will receive the security deposit back.
* Building Classifications – Classification for commercial and industrial property range from “A” to “D” with A being the highest classification. The classifications are based upon condition, location, market value, quality, and age. *Percentage Lease – The percentage lease is a renter’s agreement where the owner is paid a certain percentage of the tenant’s sales as part of the rent.
* Comparables – A comparable is a comparison of similar commercial or industrial properties in the area along with their purchase and rental costs. The buyer can use these comparables to help determine the value of the property they are buying.
* Flex Space – A flex space building is a building where the occupants divide up the space between offices, warehouse, and showroom.
If you are a commercial or industrial developer, you need professional assistance from a title company in Austin, TX to understand the real estate transaction processes and to complete your real estate transactions both quickly and efficiently. You want a title services company that offers a one-source solution for all your commercial real estate transactions. For more information about commercial and industrial real estate services available, contact your title company for a list of services available and to set up a consultation.
Title Company Austin TX – Chicago Title Austin has six area locations to serve all your title company needs in Austin, TX. Whether you are closing on a home or developing a master planned community, you will find the real estate professionals at Chicago Title Austin will handle the details with accuracy and efficiency. For commercial real estate transactions, you’ll find a single source of consolidated real estate services to meet your transaction needs. For more information about the services available, visit the website http://www.chicagotitleaustin.com/ or call (512) 480-8353.