Commercial Closing Cost

[Felix Torres]

Hey everyone,

I hope everyone is staying healthy so far through 2021.

I have a question about commercial property closing cost.

The property I am looking at is currently owner occupied by a florist with the business next door closed until who knows when. I would like to keep the floral shop and move into the building next door to put a business there.

How would closing cost look like if the building is $500,000 for example?

Could I get funds to do a little renovating?

Please let me know how this would work. If you could explain how commercial loans are underwritten would be great to. I only ask because I know commercial properties are treated differently than residential, but not sure if its easier to get one than the other.

Thank you in advance and I appreciate you taking the time to read and respond to this post.

-Felix