If your veterinary practice is in transition or for sale, or you are considering retirement, you may have questions about selling or leasing the real estate held by the practice. By consulting with an experienced veterinary attorney, you can make informed decisions about your practice and your financial future.
That’s where Mahan Law comes in. Our experienced veterinary lawyers represent veterinary professionals nationwide on all aspects of practice ownership and transitions. Selling or leasing medical real estate differs from other commercial real estate transactions, which makes having trustworthy advice and counsel essential.
Let our legal team guide you through the process, help you consider whether to sell or lease your veterinary property and work to ensure a successful practice transition. Contact our office today to set up an appointment.
Representing Veterinary Professionals in Selling or Leasing Veterinary Real Estate
No two medical real estate deals are the same, and veterinary facility owners are well aware of the complexities involved in owning their buildings. Moreover, the veterinary field requires a set of facility features and structural requirements different from other sectors.
When it comes to selling or leasing a facility, practice owners should consult with an attorney who is skilled in medical real estate and the unique needs of veterinarians. At Mahan Law, we will leverage our experience and resources to guide you through the real estate transaction and work to protect your interests.
We regularly collaborate with veterinary brokers and medical property appraisers who can help to arrive at a proper valuation of the practice and facility. Our attorneys will handle all aspects of the negotiations and always work in your best interests. Above all, we are committed to helping you engage in a successful and seamless veterinary practice transition.
Attorney for Selling Veterinary Real Estate
Owners of a veterinary practice who decide to sell the practice may also consider including the facility or real estate in the transaction. In this scenario, the seller can pay off any remaining debt on the property and invest the remaining proceeds.
If the buyer is not interested in purchasing the property, the owner can market and sell the facility to another investor. In any event, before marketing the property, it is wise to upgrade some of its features to improve the property value.
Ultimately, an experienced veterinary attorney can draw up the necessary legal documents (e.g. commitment, purchase, and sales agreements) and help to close the deal quickly and efficiently. Trust the team at Mahan Law to guide you through this transition and the successful sale of your veterinary property.
When to Lease a Veterinary Facility
If you intend to hold onto the real estate, then leasing the property is a wise choice. Although being a landlord poses challenges, the rental income from the property can provide another income stream for your retirement. Moreover, it is possible to hire a property manager to handle the day-to-day tenant and property needs.
In any event, as with a sale, before leasing a veterinary facility, upgrades are in order, all of which fall under the banner of tenant improvements and are usually paid for by the landlord.
Given that medical tenants tend to stay longer than other commercial tenants, owners will have access to consistent cash flow over time. Let our veterinary attorneys negotiate and prepare the lease and help you and the new practice owner preserve your legacy in the veterinary space.
Why You Need Mahan Law
In the final analysis, real estate is a valuable physical asset. When the owner of a veterinary facility decides to sell or lease the practice, the property will offer a solid return on investment, whether it is sold or leased. Given the numerous factors involved in a veterinary practice transition and the challenges associated with medical real estate transactions, you need the skilled presentation Mahan Law provides.
When you become our client, our accomplished veterinary attorneys will work to understand your objectives and help you make informed decisions about your practice, the facility, and your future. We regularly collaborate with attorneys and real estate professionals nationwide who have working knowledge of the local veterinary markets. Our legal team will help you navigate the financial and legal aspects of selling or leasing veterinary real estate and work to achieve a positive outcome for both parties.
The Experienced Choice in Veterinary Law
When it’s time to sell your veterinary practice, you can have confidence with Mahan Law at your side. Lead attorney Anthony Mahan is also the owner of a veterinary clinic who has unique insight into buying, selling and leasing veterinary property. By working with a fellow veterinary professional, you can rest assured that your interests will be protected and your goals will be achieved. Contact our office today to schedule your initial consultation.