Bernstein & Feldman, P.A.

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Using a checklist for selecting a business location

Opening a business in Maryland can be an exciting prospect, but it is important to make certain that the chosen location will work for the new venture's purpose. There are many different things business owners should consider when trying to decide if a particular property will be a good fit.

In order to make it easier, business owners may want to use a checklist to help them analyze a property in which they are interested. They should then conduct the research necessary in order to answer all of the questions on their list.

One important question that should be asked is whether the property is zoned for the company's purpose. A business owner will also want to analyze the area to make certain it is one in which employees will be competitors that are already located in the area. Other important considerations include transportation, the availability of parking, the ability to accommodate future expansion and the taxes that can be expected for the area.

When preparing to buy or lease commercial real estate, it is important to thoroughly investigate all of the aspects of the property. If owners fail to conduct the necessary due diligence, they may face significant financial losses. Prospective business owners who are preparing to purchase a property may want to have the assistance of a real estate attorney who can analyze the market and the local zoning laws where the property is located. Legal counsel may also help the client identify funding sources in order to finance the acquisition. The attorney may then carefully review any proposed sales agreements and other documents to make certain that the client's rights are protected.

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