Author Topic: Buying Building (commercial) - Seeking 1st Time LL Advice  (Read 173 times)

Kraut Burger

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Buying Building (commercial) - Seeking 1st Time LL Advice
« on: August 24, 2020, 03:13:45 PM »
I have just signed a contract for a warehouse in MD. I will be moving the business I co-own in after the current tenant is evicted and improvements are made for my company.

I'm ok with the transaction, terms and even the eviction. I have the next month to inspect the building a prepare my plan before we close.

In order I plan to do the following:

  • Have building inspected
  • Setup MD LLC to hold the property
  • Close

Any details I should be keeping in mind, or other steps I need to consider?
« Last Edit: August 24, 2020, 06:42:32 PM by Kraut Burger »

Evie

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Re: Buying Building (commercial) - Seeking 1st Time LL Advice
« Reply #1 on: August 25, 2020, 05:07:37 PM »
You mention you are ok with the eviction, but are you calculating in the risk of an eviction moratorium that could delay your ability to move in? Even without a moratorium many courts are not taking cases at the moment.