Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

15
Posts
6
Votes
Suzanne Emily Nguyen
  • Quincy, MA
6
Votes |
15
Posts

Mortgage question on mixed-used property

Suzanne Emily Nguyen
  • Quincy, MA
Posted

In the process of selling a property that is a 6 units mixed-used building.  5 residential units & 1 commercial space. 

1 of the unit is zoned commercial with outsourcing dry cleaners. Is it necessary that the banks are asking for floor plans of the space? I've given them the jacket of the property with all permits/leases/info of property history. 

First time being involved with commercial sale.

Most Popular Reply

User Stats

689
Posts
511
Votes
Blair Poelman
  • Real Estate Broker
  • Provo, UT
511
Votes |
689
Posts
Blair Poelman
  • Real Estate Broker
  • Provo, UT
Replied

The lender can ask for whatever they want - in the end, they are the investor, and if they're going to loan on the property they will have to be comfortable with the investment.  

The existence of a dry cleaner business on the property will likely throw up a red flag.  You should be able to get it through, but the lender will probably require some environmental "stuff" because of the cleaners.

Loading replies...