I had to go to zoning and spend thousands to get it legalized.Your situation seems as if it is zoned as a single family home, and it was split into 2 apartments with no building permits.He's selling the property because he has the wrong zoning, and is finding a bank or an investor who over looks the problems that will arise once they close.With the way things are with insurance, I wouldn't be surprised if your insurance company will not insure for two unitsgood luckGino

One piece here is that yes you can potentially find buyers that will have a premium for successful track record + even furnishings, listings, review - but important to remember that there won't be a premium assessed by the lender in almost all situations if the buyer is using financing to acquire - their loan will be based on the pure real estate value even if they are paying more - just a tip to keep clarified so no surprises that can throw off deals

It's not normal for PMCs to price out insurance policies.Some PMCs have a master policy for 1-4 unit properties that they can easily add a new client's properties to.So, not a surprise they waited to the last minute to get you a quote on a commercial property.

The demand is rising for MHCs as the occupancy rates have gained 10 basis points to reach a surprising 94.7%.

I order title in advance to make sure there are no surprises and am usually successful at getting the end buyer to use and pay for the title report/binder ($200-250 for the search and binder).

Although, should we be surprised?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I've always done 1 year leases so I am surprised to hear this.

You're on the hook for the lease regardless of how the local regulation, property performance, strange or erratic behavior by a landlord, or any other surprises.

It's supposed to ensure there are no surprises after closing.