Hi Andrew:Your best bet is to have the title company run a preliminary title report to determine who the property owner is and how title is held.

I am in the preliminary stages and I am looking for some guidance and perhaps some known pitfalls that I can avoid.

I’m here to ask a couple of questions regarding this preliminary stage in finding deals.

Progress payments to be made upon your inspection and approval, holding out at least 10% until final inspection and approval of any permits, and 30 days after completion or until unconditional lien releases are submitted for all subs and materials for which preliminary 30 day notices have been filed.In larger time sensitive projects you can also negotiate for of a performance bond which would compensate you for failure to complete the project on time and to the specifications in the contract.Always check the status of the contractors license with your state contractors licensing agency and verify that the guy signing the contract actually is the contractor whose license is being provided.

Brandon Swartwood It’s all about Cap Rate with commercial props, there is allot of important data that you’ll need eventually but you can do a quick preliminary analysis with a few simple data points.

Next, you NEED TO ask for a preliminary commitment for title insurance from a title company.

Somebody wanted to buy the property and develop it and had his attorney do a preliminary title search. 

Nearest family is about 5hr drive away.Do I ask a title company for a preliminary report?

He had a preliminary agreement with a bank and possibly a restaurant that would like to rent once construction is done.

However, the servicer has not accepted our preliminary sellers disclosure twice now.