Phase one is conducted by an engineer.The site inspection, phase one, cost reserve stable will be in the thousands to perform.

If I decide to cancel the contract during the due diligence phase, he would keep $6K, and I'd only receive $4K back.However, I declined his terms stating that if I have to concede to non-negotiable price, he'd have to concede to my non-negotiable terms.

After I began browsing this site, I came across wholesaling and I'm in the very beginning research phases on that and considering that as an option as well.

If your building may not be that bad, you might be able to either: 1) Pull it out of the map completely or 2) Get an elevation study to lower your premium.I was getting a survey for another closing and the engineering company asked me if I had any houses in a flood plain because they have a service to try to do just those options.I paid $750 for the first phase and they were actually able to pull my house out of the flood plain.

Now, I am in the process of refinancing, placing it into an LLC and embarking on a new phase of my education.

It appears from your response that u typically get the seller to pay for the phase 1.

It all depends on the scale of the project, how many contractors you know, how fast they can get you a proposal and how long you plan to remain in the preconstruction phase.

Thanks for the replies…I have debated doing this so many times…I feel it is the way of the future and that cable companies will eventually phase out…most people that I have talked to that have cut the cable, they all end up going back :-/

I'm new-ish to the LA area, from Seattle originally, where I have participated in the purchase and build-out phases of a few successful establishments there, and hope to continue that streak of success, but as an owner/partner from now on.

That's one of the big risks in commercial buildings is time to market and the size of the project requires building in phases.