Commercial real estate transactions are typically more complex than residential transactions. Usually, they involve large sums of money and increased liability for both parties. Unlike a residential transaction where the law provides basic consumer protection for the buyer, the law takes a neutral approach to its treatment of commercial transactions.
Courts expect that both parties to commercial real estate transactions are sophisticated enough to understand the contract terms. Therefore, they will hold the parties to the terms of any sales agreement – absent illegality or fraud. For these reasons and others, a buyer and seller of commercial real estate should both have professional help closing the deal.