I found a townhome I like to buy as my primary resident in Coastal North County San Diego. It is in a building with two commercial office units on the ground level and two residential townhomes on the upper level. Building is 1-yr new and the builder/broker is selling them direct with no realtor and it is not on the MLS.
I do not have a realtor yet but condiering getting one for this transaction. I’d like to be well informed on the things I should consider and look for in buying a residential unit that is on top of a commercial office unit. I expect the realtor I get will give me the necessary advice but I’d like to know as much as possible on my own in case my realtor overlook certain issues/risk in this particular situation. Thanks.
I would want to see docs regarding HOA. Since it’s 4 units total – 2 commercial, 2 residential – how the maintenance is handled is important.
I would want to know the status of the other 3 units. Are they already sold? Are you the first buyer? Financing might be challenging if you’re the first one. Not sure if that owner occupied rates apply to 2-4 unit developments.
Has the builder obtained occupancy permits yet? The big clue there is whether the gas meters are installed. (At least in the city of San Diego – sdg&e is not allowed to install the gas meters till occupancy permit is issued.)
I would want to see docs regarding HOA. Since it’s 4 units total – 2 commercial, 2 residential – how the maintenance is handled is important.
I would want to know the status of the other 3 units. Are they already sold? Are you the first buyer? Financing might be challenging if you’re the first one. Not sure if that owner occupied rates apply to 2-4 unit developments.
Has the builder obtained occupancy permits yet? The big clue there is whether the gas meters are installed. (At least in the city of San Diego – sdg&e is not allowed to install the gas meters till occupancy permit is issued.)
I would want to see docs regarding HOA. Since it’s 4 units total – 2 commercial, 2 residential – how the maintenance is handled is important.
I would want to know the status of the other 3 units. Are they already sold? Are you the first buyer? Financing might be challenging if you’re the first one. Not sure if that owner occupied rates apply to 2-4 unit developments.
Has the builder obtained occupancy permits yet? The big clue there is whether the gas meters are installed. (At least in the city of San Diego – sdg&e is not allowed to install the gas meters till occupancy permit is issued.)
I would want to see docs regarding HOA. Since it’s 4 units total – 2 commercial, 2 residential – how the maintenance is handled is important.
I would want to know the status of the other 3 units. Are they already sold? Are you the first buyer? Financing might be challenging if you’re the first one. Not sure if that owner occupied rates apply to 2-4 unit developments.
Has the builder obtained occupancy permits yet? The big clue there is whether the gas meters are installed. (At least in the city of San Diego – sdg&e is not allowed to install the gas meters till occupancy permit is issued.)
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