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Sellers

Repurposing a Specialty Property

I worked with a church group selling their property and given the size of the property, location and value of the land it seemed unlikely a church group was going to buy. Eventually, a non-profit community group was the successful buyer. Unfortunately the zoning in place at time of listing would have allowed the use, but…

Environmental Basics

Most commercial properties have at least some environmental risks. Beyond that statement it is a property by property situation. The most common problems come from past or present industrial uses or other hazardous uses like gas stations or dry cleaning plants. When you are buying it is advisable to at least consider a Phase 1 environmental report –…

Basics of Commercial Property Finance

As a licensed mortgage broker in Ontario I sometimes get involved in the financing of commercial properties. I usually do this as a convenience to my Martel clients rather than focus on financing as a main business line. Point 1 : Talk to your bank first. Most clients have an existing banking relationship with a…