Oliva, Saks, Garcia & Curiel, LLP | Matthew J. Obermeier | attorneys & Counselors at law
Visa | MasterCard | American Express | Discover Network
Main Navigation
Free Initial Consultation
210-296-5828 / 800-820-1664
Practice Areas

San Antonio Real Estate Law Blog

Considerations to make when buying commercial property

The decision to enter the real estate market is never easy. There are so many things that can go wrong, especially when you are trying to purchase a piece of commercial property. There are various reasons to purchase a commercial property, including finding space for your business or to rent it to others for some income. Let's look at the considerations you need to make when buying commercial property in Texas.

If you are buying the property for your business, you need to take a long look at the stability of your business. You not only need to examine the financial ability to purchase the property but also if your company will still fit in the building in the near future. You don't want to spend a lot of money now and then outgrow the building in five years.

Local commercial property firm invests in San Antonio apartments

The local real estate investment company, Internacional Realty, recently purchased a massive, 208-unit-sized apartment complex in Universal City. The firm bought the property from Lowe Enterprise Inc., a real estate development firm based out of Los Angeles. The apartment complex in question is named Sunrise Apartment Homes.

As of yet, the price of the complex has not been revealed. The 8.2-acre property, however, was recently appraised with a value of $19.4 million. Also, we know that Freddie Mac contributed a $15.2 million loan to make the purchase possible.

What are the different categories of commercial real estate?

If you're in the market to become a commercial real estate investor -- or if you're a real estate investor who plans to increase your commercial holdings -- it's important to understand the kinds of investments that are available to you. In fact, there are many different categories of commercial real estate.

Although you might be able to subdivide the commercial real estate categories that follow or add a new category to the list, what follows will be adequate for most commercial real estate investors:

Transactions in Texas grow increasingly complex

A real estate transaction is a complicated process. In addition, every buyer and seller comes from a certain background. People from all walks of life buy and sell property. There are many options out there to cater to different financial situations. This can sometimes be beneficial, and sometimes troublesome, if done incorrectly.

San Antonio airport to benefit from $25 million in improvements

The San Antonio International Airport is set to benefit from a $25 million redevelopment plan. A real estate firm from Colorado will carry out the project which will update the Hawker Beechcraft Services' aircraft maintenance area of the airport. The facility, which has been closed since 2012, is located off John Cape Road.

According to the San Antonio Aviation Director, the project will benefit the entire San Antonio area in addition to the airport itself by bringing a boost to the local economy.

Termite types to watch out for

A termite infestation can absolutely destroy the value and livability of a property, so it's vital that you do not inadvertently get trapped in a new home purchase that has a termite problem. When purchasing a home, it's always best to hire a professional to do a home inspection. This should include inspecting for signs of termites. However, you should also do your part to look for termites.

Here are two types of termites to look for:

Beware of “foreclosure prevention” scams

If you're in a difficult financial situation and struggling to pay your home mortgage payments on time, it's important to stop and assess your situation rationally -- and as soon as possible. If you wait until it's too late, you could become so desperate for a solution that you fall for any number of foreclosure prevention scams.

Right about now, you might be thinking, "But I'm smart and I would never get scammed." Don't be so sure. Desperate times call for desperate measures. When faced with the possibility of your family being kicked out of their home, you could be susceptible to not analyzing all the details of a proposed foreclosure prevention "solution," and completely miss the fact that it's a fraud carefully designed to take your money.

Home sellers in Texas: What you need to disclose

Texas law ensures the honest home transactions occur throughout the state. As a home seller, the law requires you report any known material defects with the property. Though the temptation of selling your home without disclosing its previous repairs and existing issues may prove great, you want to explain all problems – or your home buyer could sue you.

 

Search for these things to identify a problematic home

Before purchasing a home, every San Antonio home buyer should contract a home inspector to perform a thorough review of their real estate purchase. However, home inspections do not come cheap, so prospective buyers might want to do a cursory review of the home themselves. In some cases, home buyers can rule out a prospective purchase without the need for a professional inspection.

Here are nine things to inspect while carrying out a do-it-yourself inspection:

  • Look for signs of leaks in the attic and make sure the insulation is adequate.
  • Evidence of leaks: Check all the ceilings and walls for signs of water damage and leaks.
  • Is the basement damp or does it smell bad? Shine a flashlight in ground level crawlspaces or leave that task to the pros.
  • Check all the electrical fixtures, switches and outlets. Make sure all the outlets are grounded.
  • Look at the faucets, showers, bathtubs, drains and toilets. Make sure everything drains quickly, there aren't any leaks and there is adequate water pressure throughout the home.
  • Let the heating and air conditioning run for some time. Make sure that they heat and cool effectively.
  • Look at the ceilings and bases of the walls in every room in addition to the exterior. Are there cracks, unevenness, water leaks, trees growing into the foundation or other visible problems?
  • Makes sure the ground has sufficient drainage away from the home. Do you see anything that looks soggy or appears like it could flood?
  • Find out when the roof was last replaced. Make sure it doesn't look damaged, there are no missing tiles and everything looks in good repair.
  • Do the walls need repainting or repairs? Do the gutters appear to be in good repair? Do you notice any falling wires or loose paneling? Does the home have any asbestos in it that will need special treatment when repaired?

3 tips for before you put your home on the market

Before you put your home on the market for sale, there are a number of things you can do to increase the chances it will sell and to increase the amount of money you can receive for the property. Let's take a quick look at four of the most important pre-real estate sale tips that will assist you in this regard:

Perform a thorough walk-through with your agent