Below are some helpful hints for someone looking to purchase commercial realty. If after reading the below information you still have questions, feel free to go to our “Contact Us” page and fill out the information with your question and we would love to help you out.
When purchasing a building to occupy as the primary tenant, it is imperative that you determine that your specific use will be approved by the local city and governmental agency. This needs to be accomplished by receiving a Use Determination Letter (UDL) from the local authority. The buyer can prepare the letter himself or hire a professional who writes Use Determination Letters for a living. It is generally believed that if the buyer is not qualified to write the UDL, and they want the best shot at being approved by the city, that they hire the consultant to write the letter.
My experience is that the consultant knows how to word the letter that concisely and accurately describes the business in a way that appeals to the city better assuring approval of the potential use.
If you found this information beneficial or useful and would like to receive more information about the current real estate market feel free to subscribe to our newsletter and you’ll receive an email every month with up to date information about what is going on in the real estate market and what is going on with Commercial Realty Specialists.