I have a friend that is interested in purchasing a commerical piece of property, with the owner holding the mortgage.
I was wondering if anyone had any thoughts on this topics. I do have my own being I have had expereince in the Residential Real estate market but none in the commerical end...
The concerns I have stressed to date is the property was assessed in 2007 for 99200. They have a contract for 150000.00. Which is far more then the assessment. Also taxes, and deductions, who would be entitled to them if you are paying the owner, I am sure like anything it depends on the contract. If anyone has any other information or things to think of or look for, your opinions would be welcomed. I just dont want my friend to get in over their head, although the individuals have been great people to rent from and great cleints to work with, I still think its a little pricy...Again thank you in advance for your thoughts....
2007-12-02
08:05:00
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5 answers
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asked by
joannie_226
1
in
Renting & Real Estate