All Forum Posts by: Evelyn Santiago

ahhh a holding agreement.  makes sense.  i will get one together.  thanks!

Someone placed a hold on my office space with a security deposit (1 1/2 mo. rent) but has not submitted any of the paperwork that I need to move forward with signing the lease including:

-proof of income

-proof of commercial liability insurance

-CP 575 form from the   IRS showing the business entity and tax id#

-paperwork from the town for their business license

I originally met with her in the beginning of August and have met with her several times to explain all of this to her and she insists she will get it.  I gave her a deadline of August 31.  My question is, if she fails to submit any of the required paperwork can I keep the security deposit since she has not acted in good faith in obtaining any of the documents needed to open a legitimate business?

thanks for your help!

Here are the details on the property:

1 tax lot with 2 properties....the first property has (3) 1 bedroom apts with a store on the first floor that can be an office.  The second property is a 2 family..(1) 2 bedroom and (1) 3 bedroom.  The area in Belleville where its located is in the Silverlake section.  Can anyone help with the cap rate for the general area??  I have already calculated the rate based on the purchase price I am offering however I want to know what the general rate is for that area.  Any help is much appreciated!! Thanks

View report

*This link comes directly from our calculators, based on information input by the member who posted.

HELP!  Does anyone know what the current cap rate is for Union City?