Allentown Commercial Property Cash Sale - Does a CO need to be pulled
Hi BP Lehigh Valley,
I'm working on a sale of a commercial property in Allentown, the buyer is paying all cash. I am running into conflicting information about the need for a CO to be pulled before the sale. For residential, I understand this is a requirement. Lenders also require this. However this deal is not residential, and there is no lender involved. The buyers agent is insisting it is a requirement anyway. In the AOS our buyer agreed to no inspections.
Can any local experts in the Lehigh Valley weigh in on this? Can anyone refer me to a local expert who deals in commercial and cash deals in the LV?
Big question: Will the city or title company stop the sale if there is no CO pulled? Our reason for NOT pulling one, is there are functioning businesses in the building, and the seller does not want to risk an issue that would cause loss of rent or un-realistic requests from the municipality that may disrupt the commercial tenants.
Thank you in advance!
Matt