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GSRM has many valued relationships with clients engaged in transactions involving real and personal property. Areas of emphasis include:
Commercial Finance
GSRM’s relationships with many regional and national lending institutions provide the firm opportunities to use its extensive experience in commercial finance. Firm members are often involved early in such transactions, from the advance preparation of documents to the initial exploratory examination and due diligence of the property, including an analysis of unique or new laws that may affect the structure of the deal. During a transaction, firm members provide many services before, during, and after the closing, from structuring the transaction, to providing title searches, preparing the documents, and rendering legal opinions on the validity and enforceability of the documents evidencing the transaction.
Financial Institution Representation
GSRM has a long history of representing financial institutions, including banks, savings banks, insurance companies, mortgage companies, credit unions, and industrial loan and thrifts.
From transactional matters, such as commercial credit facilities involving multiple jurisdictions, to advice on day-to-day questions and Uniform Commercial Code issues, GSRM attorneys are experienced and ready to assist.
Leasing
GSRM lawyers understand that leasing drives commercial real estate. The firm routinely represents owners and tenants in commercial leasing for all kinds of properties -- from retail shopping malls and strip centers to office, industrial, and warehouse properties. When disputes arise, the firm’s real estate lawyers work closely with members of the firm's litigation team.
GSRM provides representation in all aspects of this area -- whether the issue involves tenant default, build-out, percentage rent, common area maintenance charges, assignment or sublease, use clauses, subordination and non-disturbance agreements to indemnity, public access, or another of the myriad of legal issues inherent in commercial leasing. Additionally, members of the firm are active in the International Council of Shopping Centers.
Mortgage Lending
GSRM handles all types of mortgage transactions, from complex financing for income-producing properties to conventional home mortgages. Two members of the firm are also members of the American College of Mortgage Attorneys. Firm members frequently serve as local counsel for lenders and their attorneys from other jurisdictions and give legal opinions on all aspects of mortgage lending, including usury, lien priority and doing business, and qualification issues.
Real Estate Development
Representation of landowners, developers, lenders, and others in the development process is a hallmark of GSRM’s real estate practice. Whether the need is to negotiate the terms of a purchase agreement, the terms of owner and third party financing, address the development rights and easement questions, or to resolve survey and title issues, GSRM attorneys are prepared to provide their assistance to clients involved in these types of transactions.
Real Property Transactions
GSRM’s real estate lawyers handle virtually all types of real estate matters, including the routine (commercial and residential title examinations, issuance of title insurance, closings and foreclosures) and the non-routine (boundary line disputes, mineral rights issues, contract disputes, easement and survey questions, and conveyances under Chapter 11 plans).
The firm represents sellers, purchasers, lenders, brokers, and others. Supported by a staff of experienced legal assistants, GSRM lawyers are policy-issuing agents for Old Republic National Title Insurance Company and are approved attorneys for other national title insurance companies. Members of the firm are frequent seminar and continuing education speakers for lawyers and other real estate professionals.
RESPA 2010
Effective January 1, 2010, the U.S. Department of Housing & Urban Development (HUD) has made significant changes to the Real Estate Settlement Procedures Act (RESPA). HUD requires that loan originators provide borrowers with a standard Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. Lenders will need access to up-to-date and accurate information when completing a GFE as some costs cannot change from the initial GFE, some costs can increase up to a 10% tolerance from the initial GFE and some costs can change at settlement without limitation from the initial GFE.
GSRM understands the need for lenders to have access to standard and predictable information when providing GFE’s to consumers. We have assembled resources to assist our clients in providing this information.
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