Commercial real estate transactions are complex enough without worrying about what happens after the ink dries. Yet sellers and buyers regularly face unexpected challenges when building services aren't properly transferred during closing.
Whether an office tower, a retail center, industrial complex, or multifamily apartment building, the handoff of essential building services represents a critical transition point.
From maintenance contracts to utiltiy accounts, every service requires careful attention to ensure seamless continuity.
The consequences of poor service transitions are real: Surprise invoices, service gaps, and unclear responsibilities result in ongoing headaches. These disruptions don't just cost money—they damage relationships, create liability concerns, and waste valuable time.
Walk away clean without unexpected invoices following you for months. We ensure every service is properly accounted for and prorated correctly, so your financial obligations end at closing.
Complete closure means complete peace of mind. No lingering service agreements, no disputed charges, no follow-up headaches. When you close, you're truly finished.
Prevent messy ongoing situations with systematic service transfers. We document every detail, ensuring buyers receive complete information and you avoid future disputes or liability.
We empower you to come to closing fully prepared, ensuring you know the correct proration amounts due for every building service. Our detailed analysis eliminates guesswork and prevents closing-day disputes over service charges.
We enable you to be free and clear following closing with no surprise follow-on bills and no erroneous payments. Every service contract is properly terminated or transferred, with complete documentation protecting you from future claims.
Receive comprehensive records of all service transfers, prorations, and final account statuses. This documentation provides legal protection and clear proof that your obligations ended at closing.
Know exactly what you're paying for from day one. No hidden contracts, no surprise renewal fees, no disputed charges from previous ownership periods.
Know that all essential services are in place from day one. No scrambling to find replacement vendors, no service gaps for you or your tenants that could trigger lease violations or create liability exposure.
Use Temporary Service Agreements to extend existing agreements for additional time to find preferred vendors while eliminating risk of service interruptions
We prepare detailed information on current providers, pricing, and contract terms, so buyers can make informed decisions about every service contract. Avoid inheriting unfavorable contracts or paying for services you don't need.
You Identify services that need to be transferred, termination or temporarily extended with full visibility into costs and obligations. We effectiate those transitions.
Receive comprehensive records of service contract transitions, along with our ongoing support to resolve disputes or confusion.
We've systematized what was once an ad-hoc process, bringing professional rigor to service handoffs and eliminating the common sources of post-closing disputes and disruptions.
Sellers and Buyers who use NOVATION have a fundamentally different closing experience—one characterized by preparation, clarity, and control.
We maintain comprehensive records of all service transfers, prorations, and final account statuses, continuing to provide post-closing support for resolution of any surprise vendor disputes.