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The buying and
selling of commercial
property shares
many similarities
with residential
property, however
there are some
significant
differences.
The most noticeable
difference is
generally in
the size of
the agreement,
which will contain
pages and pages
of explicit
details that
you will not
find in a standard
residential
agreement. This
is because of
such factors
as liens, title
issues, zoning
requirements,
and concern
about hazardous
materials. Each
property and
its issues are
different from
the next, but
they all require
careful attention
to each detail.
Also, location
of the property
becomes a much
greater concern
when it may
decide the fate
of your business.
Those purchasing
a commercial
real estate
property will
often have less
consumer protections
than those purchasing
residential,
which is all
the more reason
to spend extra
time reviewing
each and every
aspect of the
contract.
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