If you are considering selling an income producing property, i.e. apartment complex, office building, retail center, do some housekeeping before you sign the agreement. It’s certain the purchaser will request an existing title insurance policy, past utility bills, tax bills, operating expenses, certificate of occupancy, copies of leases, approvals, permits and plans. Dig them out, scan them into your computer. Once an agreement of sale is executed all you will have to do is move them to a drop box or attach them to an email. Often time lines in agreements are tight. You can avoid a race against the clock by doing some advance planning. If you need help with planning for or documenting a commercial transaction, get in touch with me.
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