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On a 100k loan for a 1550 sq. ft. vacant office building, can anyone tell me what avg. closing costs I can expect? Seller says he has no liens on property.
Also, I will try to get seller to pay closing costs. Can you tell me which ones are not allowable for seller to pay?
All help is much appreciated!

Yes I was just reading up on that. the only problem is we just purchased our house 10 months ago and we have only about 35k equity in it. Thanks though.

Thanks for your reply. My credit score is in the mid 800 range. If I could get a personal loan for that amount at around 6.5%, maybe that would be a better way to go. What do you think?

I'm in the negotiation process on the purchase of an office. Looking to pay 100k or less. I have great credit, enough income to cover monthly payments. I plan on buying this to rent out. So far I've been told they will not do under 100k, and the rate and terms that I have been quoted from another is 8.5% for 5yr. ARM after that it goes to a T. Bill rate + 3 1/4%. Also when I asked about an 85% LTV, which I thought was 85% of the VALUE of the office. But she say's it's 85% of the cost. Shouldn't that be called an LTC. Another Quote I received was similar to that. And others I haven't heard back from yet. This seems a little redicullous. Is this typical of commercial loans? Does anyone have better sources for a better loan and terms. Any help would be appreciated. Thanks