A direct sale for a mixed-use property.
Residential and business space can bring different leases, repair needs and municipal requirements. We look at the whole property when discussing a purchase.
Residential and business occupancy
Describe each residential and business space, who occupies it and any shared entrances, parking, utilities or building systems. Explain which spaces are vacant and what you would like a sale to change.
Leases, costs and permitted uses
Available leases, income, expenses and municipal records help explain how the property operates. We investigate questions about existing uses with appropriate professionals and distinguish documented uses from those that need confirmation.
Inspection access and the handover
An operating business and occupied homes may need different access arrangements. Discuss inspection access, remaining work and responsibilities through closing so the proposed purchase accounts for the whole property.
Questions about selling a mixed-use property
What information helps explain the mix of uses?
Describe the residential and business spaces, occupancy and shared areas or systems. Available leases, income and expense records, floor plans and municipal documents help establish what needs further review.
Can you consider the property while a business is operating there?
Yes, an initial discussion can begin with an operating business in place. Explain the occupancy arrangements and access constraints. The property purchase and any separate business matters must be clearly distinguished.
What if a commercial space is vacant or needs work?
Share the condition, prior use and what you know about the vacancy. Andrew considers the expected work, carrying costs and unanswered use or approval questions when discussing a purchase.
How are residential and commercial leases handled?
Both need review in the context of the proposed transaction. Provide the agreements and explain any missing records. Your lawyer advises on the obligations and how the purchase agreement should address them.
Let’s talk about what comes next.
Tell Andrew about your property, even if you haven’t decided to sell.
Discuss Your Property