Anchor Law Blog

Residential Real Estate Transactions

Most residential real estate transactions involve the sale of a home, condominium, or vacant land. These deals often follow a familiar path. First, a purchase agreement and title work, then inspection and financing, and eventually, closing. However, beneath this familiar process lies a web of legal considerations that, if overlooked, can lead to costly consequences.

For instance, a seller must comply with Michigan’s Seller Disclosure Act, provide clear title, and properly disclose known defects. A buyer must conduct due diligence and understand zoning limitations, property taxes, and survey boundaries. Disputes often arise over earnest money deposits, failed inspections, or appraisal gaps.

At Anchor Bay Law, we assist clients by reviewing or drafting purchase agreements, addressing title issues, negotiating inspection outcomes, managing land contract terms, reviewing financing documents, and coordinating with title companies, real estate brokers and agents, and municipal departments to ensure every step is compliant and secure.

We are also experienced in helping clients navigate unique issues such as:

• • Land contract sales and seller-financed purchases
• • Probate sales or estate-owned property
• • Boundary line disputes or fence encroachments
• • Condominium unit transfers and Master Deed issues
• • Zoning board applications or variance requests for new structures and nonconforming uses
• • Code enforcement defense

Commercial Real Estate Transactions

Commercial real estate is a different world entirely. These transactions may involve significant capital, corporate entities, multiple lenders, and long-term business goals. Whether it’s a small retail storefront, a warehouse facility, or a multi-unit investment property, the stakes are high and the paperwork is detailed.

At Anchor Bay Law, we represent both buyers and sellers in commercial real estate deals, from drafting and negotiating complex purchase agreements to advising on due diligence, leasing, and closing logistics.

Some of the key legal issues we regularly assist with include:

• • Reviewing or preparing purchase agreements customized for the transaction
• • Title insurance analysis (with the use of outside title companies)
• • Environmental assessments (e.g., Phase I and Phase II ESA reviews)
• • Zoning and code compliance for the proposed use
• • Survey review and boundary analysis
• • Proration of rents, taxes, and operating expenses
• • Commercial leasing (NNN, etc.)

Unlike residential sales, commercial contracts generally do not come prepackaged in standard forms. They are often negotiated line-by-line, and even a minor oversight may have long-term consequences. Anchor Bay Law’s job is to ensure clarity, fairness, and enforceability in every term.