Purchasing first commercial lot

[Jay G.]

I'm going to be purchasing a small commercial lot from an individual. It's currently off market, but I happen to know the owner and am agreeable with his price. The price is under $200k.  Any feedback on the best way to purchase the property (all cash) to eliminate risk?  I'm assuming my residential real estate broker would be happy to handle the transaction, but I'm curious if there is a better (less expensive) process for commercial lots. This is bare land within city limits. 

Thanks,
Jay