COMMERCIAL PURCHASE QUICK TIP
A lot of sales of commercial buildings require as a condition that the Purchaser take subject to violations that have been levied on the property. While some of the searches can be undertaken on line (i.e. NYC Department of Buildings), there are other searches that cannot. The $500.00 spent on a title search will give a Purchaser a head’s up on any “unknown evils” that may be lurking in the shadows. You would think this would be obvious but some Purchasers would rather be penny
wise but pound foolish by seeking to avoid paying the money for a title search prior to obligating themselves under a multi-million dollar purchase of a commercial building.