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Updated over 5 years ago,

User Stats

4
Posts
0
Votes
Rui Zhang
  • Rental Property Investor
  • Riverwoods IL
0
Votes |
4
Posts

Buying small office building - Attorney Review vs. Due Diligence

Rui Zhang
  • Rental Property Investor
  • Riverwoods IL
Posted

Hi BP, I am under contract to purchase our first office building, it is fully occupied with 2 tenants. I have asked standard documents through my attorney to the seller's attorney - leases, insurance with any claims in the past years, service contracts, any permit violations, etc during attorney review. My attorney said these documents can be required after attorney review closes. So far, except signed leases, I have not received anything else. My attorney keeps asking about the physical inspection. I'd like to complete the financial inspection first. 

What is the difference between attorney review and due diligence? Is this the right attorney for me? 

Thank you.

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