Buying my first Commercial Property (Cash or Finance)

[Heather Lawler]

I am buying my first commercial store front property. I am actually going to move a business I already own to this building. My question is do I pay cash for it or do I finance it? What are the pros and cons of either? I have been told to pay cash and then finance it later if I need the money for something else that way I will get a better deal for it up front with less closing costs.

Edited to add: This is a FSBO and I am putting in a cash offer as a buyer. He has already accepted my verbal offer actually but what do I need to make sure of on the buyers side of the deal as the property closes. I already have my real estate attorney in mind but will they take care of everything or do I need to do more. Should I put my money in an escrow account until closing is done?