NOT KNOWING YOUR LENDER'S FULL REQUIREMENT UIREMENTS
This needs to be addressed early compared to some of these other topics. But I’ve seen many buyers conduct due diligence, pay for inspections, and waste time before not getting approved for a loan due to some underhanded writing. You know that lenders are going to be as conservative as possible while looking at each and every aspect of the property. They will look into the physical condition inspections, any current leases in place, your intended use, any environmental issues, and all the documents needed plus the current title. Getting preapproved before this happens is the best way to avoid wasted time.
NOT MAKING SURE THE P URE THE PROPERTY IS IN COMPLIANCE WITH CURRENT CE WITH CURRENT BUILDING CODES
It is fairly normal for a buyer to find out that the property does not meet the minimum for ADA codes and compliance after they bought it. This will show when a contractor attempts to pull a permit from the city for your buildout, or if the city inspector ever comes to check out the contractor’s work, then sees infractions. Make sure all the spaces and aspects have been made with a permit. I recommend having an architect or a contractor inspect the property to bring up any improvements in compliances during the due diligence period. The owner should be responsible for this. You don’t want to be on the hook for any surprises when you own the space.
Due diligence and inspections are a huge period you can use to
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