Also, when you receive the final ALTA, make sure the seller credits you the security deposits he received when those tenants moved in. 

The buyers want "An ALTA Owner's policy of title insurance without standard exceptions" checked on the contract instead of "An ALTA homeowner's policy of title insurance."  

I compared the ALTA to a family member's sale last year and saw about a $1400 difference.

Survey - Get your own survey done ASAP even if you have seller's version - generally you'd need an ALTA survey for a commercial deal.

Terms, covenants, conditions, easements, restrictions, reservations and other provisions, including provisions which provide for a private charge or assessment and also provide for an option to purchase, a right of first refusal, or the prior approval of a future purchaser or occupant, according to that specific Declaration of Condominium"ButThere is also ALTA 4.1 CONDOMINIUM--CURRENT ASSESSMENTS ENDORSEMENT which states: The Company insures against loss o rdamage sustained by the Insured by reason of: Any charges or assessments provided for in the State condominium statutes and condominium documents due and unpaid at the Date of Policy.Looking for advise on next steps.

Prepay HOA fees, buy a home warranty, prepay some other kind of service that can go on the alta.

I made sure the renovation cost was listed on the Alta and included in the total loan amount.

It ain't over till the curvy lady sings :-)Sue,  prescriptive rights and adverse possession are very tough things to prove and take years.. and you normally have to pay the tax's on the disputed property which most don't do. for a title company to insure the boundary's he would have had to buy and ALTA policy and most just use a CLTA which does not provide for boundary accuracy.. 

The first step would be to get an ALTA survey completed on the entire property. 

They would adjust the ALTA so your commission appears as a credit on your side as the buyer.If part of your commission goes to your brokerage, you can let them know your split, and they should be able to send a check directly to the brokerage for their portion.