It depends on the deal
Simple sales
Most straightforward commercial sales in Colorado are written on standard contract forms approved by the Colorado Real Estate Commission. Your broker fills them in, and the title company handles the closing. Many buyers and sellers close without an attorney.
- Standard state approved forms
Leases
There is no standard state form for a commercial lease. The landlord's attorney writes it, it often runs 30 pages or more, and it binds you for years. An attorney reviewing it protects you on the parts that cost the most later: personal guarantees, repairs, assignment and default.
- We highly recommend an attorney
What your broker can and cannot do
Your broker
- Pricing, comps and market terms
- Negotiating rent, price and concessions
- Filling in the standard forms
- Telling you when a question becomes legal advice
Your attorney
- What a clause means for you legally
- Writing or changing contract and lease language
- Entity, tax and liability questions
- Disputes and defaults
How we help
We tell you plainly when a question is legal advice, so you know when to bring in an attorney. If you do not have one, we can introduce you to real estate attorneys who answer quickly and know commercial deals, so your timeline does not stall waiting on a reply.
This is a plain language summary, not legal advice. Ask an attorney about your situation.
Common follow up questions
Do I need an attorney to buy commercial property in Colorado?
Usually not. Most commercial sales use standard Colorado Real Estate Commission forms and close through a title company. We will tell you if a question becomes legal advice, so you know when to ask an attorney.
Do I need an attorney to sign a commercial lease?
We highly recommend one. Commercial leases are written by the landlord's attorney and bind you for years, so have your own attorney review the guarantee, repair, assignment and default terms before you sign.
Can my broker give me legal advice?
No. A broker can advise you on pricing, market terms and negotiation, and fill in the standard forms. We will tell you when a question becomes legal advice so you can ask an attorney.
Can Innovate CRE recommend an attorney?
Yes. We can introduce you to responsive real estate attorneys who know commercial deals.
This page is general information, not lending, legal or tax advice. Programs, limits and terms change, and every situation is different. Talk with your lender, attorney and CPA before you decide.