What are the differences between a commercial real estate transaction and buying a house?
Although the general principals behind buying a commercial piece of property and a residential property are similar, there are also a number of differences between such transactions. Generally, the purchaser of a residential property is afforded more consumer protection than the purchaser of a commercial property. Moreover, certain disclosures need to be made to residential property buyers that need not be made to commercial buyers. The risks associated with buying a commercial property are generally higher than in buying residential real estate, such as those dealing with hazardous waste or zoning issues.
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