When it comes time to close on your real estate purchase, the loan documents often make up the bulk of the paperwork on closing day. For commercial property purchases, the loan documents can be complex. Lenders often have their attorneys draft these documents instead of using standard forms or templates. Having your own contract formation and review lawyer in Houston review these documents is critical to making sure that all the details are correct. If you are getting ready to close on a loan, call Porter Law Firm at 713-621-0700 to let us review your documents and help protect your interests.
Why Hire Porter Law Firm?
Commercial real estate and investments come with a unique set of challenges. The Porter Law Firm is here to help you overcome those challenges. We will spend the time to get to know you and your unique goals. Our team will become your strategic partner to help you achieve the outcomes you desire. Clients choose to trust us for many reasons, including:
- Many of our attorneys are commercial real estate owners and investors themselves
- We will give you the same advice that we would follow ourselves
- Our team has been protecting clients’ interests since 2009
- You will almost always get a dedicated attorney to handle your legal matters
- We have a whole team of experienced lawyers available when necessary
Before you close on your next loan, contact Porter Law Firm to let us perform a detailed review of your loan documents. Give us a call today to get started.
Reasons You Should Have an Attorney Review Your Loan Documents
Loan documents include much more than just the repayment terms. Commercial loan documents can be much more complex, and Texas law has strict regulations on real estate loan agreements. Without a Houston real estate litigation and dispute lawyer, you could be agreeing to fees, land use restrictions, or other obligations of which you are not aware. You need an experienced attorney who can review these documents for you to make sure you understand every detail. Some reasons you need a lawyer to review your loan documents are:
- To confirm the property details in the paperwork match the property you are purchasing
- To help you understand all the repayment terms, including potential late fees and prepayment penalties
- To fully explain all land use restrictions or covenants contained within the paperwork that may limit how you can utilize the property
- To negotiate any unacceptable terms of the agreement which may be modified
At Porter Law Firm, our lawyers will evaluate every detail contained in your loan documents and take the time to make sure you fully understand the agreement before signing it. Moving forward without a Houston loan documents review lawyer could put you in potential legal trouble in the future.
What is Typically Covered in Your Loan Paperwork
Commercial real estate loan documents contain many terms and conditions. While residential real estate loans typically just outline the mortgage details, commercial documents include much more. They may include some or all of the following items:
- Repayment terms
- Minimum Yield Requirements
- Inspection Fees
- Prepayment Penalties
- Affirmative Covenants
- Negative Covenants
Loan documents often reference recorded property details, including previous ownership and existing liens. You can verify Harris County mortgage and deed records to ensure accuracy before closing on your loan.
Whether you are purchasing residential or commercial real estate, the loan documents often make up most of the paperwork on closing day. A purchase and sales agreement lawyer in Houston can help you understand all the details of these documents prior to signing them.
Schedule a Consultation With a Houston Loan Documents Review Attorney
If you are working with a lender to secure your next real estate purchase, contact Porter Law Firm today. Let us help you through the purchase process by reviewing your loan documents and ensuring that your best interests are protected. Schedule your consultation with one of our Houston loan documents review lawyers today.