Question: About Seperating A 2 Retail Location
Hi, I own two commercial store that is side by side... the deed / title / Gas / water is joint (ex 3538-40 Example st), Is it possible to sell them separated?
What do i need to do? How much does it usually cost to do the seperation?
Thanks in advance
[ Edited by vincent2u on Date 06/16/2010 ]
Hi! Sorry for the slow reply... I totally forgot I asked Thanks for answering my question. how much does it usually cost? cost for the separation?? who should i talk to? Zoning board?
PS. What does PD (condo) stand for?
it sold before I put it under contact. I was expecting 4-5K for civil engineer and 1000 in legal.
condo or PUD (planned unit development) is subdividing the one parcel into the number of units or buildings that you have (e.g. 5 buildings).
I dont believe a purchase contract gives you the right to address a lease. I think the owner/seller is silly to let a potential purchaser go to that level with a tenant.
Thats like me making an offer on a duplex, and the seller lets me adjust and talk with existing tenants before I am even the owner.
I cant see how you got that far with a tenant lease. But it would work if the existing owner allowed it...i dont see why he/she would, unless you some how could guarantee closing on the property.