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ASSUreD REALTY

Buyers Guide

Resources and information to answer property buying questions.

Selecting a Community

Most people who are looking to buy, ask for a property with specific features (a certain number of offices or bathrooms, etc.), that is located “in a good and profitable community.” However, it is important to keep in mind that your idea of a “good community” can be very different from that of others and maybe even the agent who is helping you find a home.

Bids & Offers

In purchasing a commercial property you have a business transaction that requires multiple parties and often outside services including, financing, appraisers, property inspectors, title work, and often many others. These services require more time than most people think, but the key to moving the entire process along is an agreement, legally binding the buyers and sellers of commercial spaces.

Property Inspection

Property inspections provide a level of objectivity in evaluating a space. It is recommended that any property, even a new one, be inspected. Property inspectors play the role of the objective third party. Typically,  inspectors evaluate a property five to ten days before contract negotiations are complete in order to secure mortgage approval.

Title Insurance

Most mortgage lenders require their customers to obtain title insurance. A title is the legal document of ownership for a property. Title companies require you to pay for a title search, which is an extensive search through legal documents to prove the person selling you property has legal claim to do it.

Buying Process

The following list will give you an idea of the process involved when buying a commercial properties.