Milan Melas

Buying & Investment

Let me help you every step of the way. When purchasing a commercial property, you are faced with a multitude of decisions! The primary one is whether you are well prepared to purchase an ICI property. Locating the perfect commercial property is not an easy task, especially when many potential ICI properties for sale are not listed on MLS. Even if you find it, the process of obtaining a commercial mortgage loan is a complex and tiring process. The commercial mortgage process involves a detailed building inspection of the structure, electrical and mechanical systems, environmental reports (Phase 1 or Phase 2), appraisals and your financial accounting information to name a few. These investigations of the property, including Title and City Zoning and Permits are necessary, even if financing from a financial institution is not required. These ‘Due Diligence’ investigations commonly range from $10,000 to $20,000, with some cases being higher depending on the property conditions and previous uses in or around the property. Purchasing a Commercial or Industrial Condo is slightly easier to finance due to the structure and common area repairs and maintenance being managed by the Condo Corporation and the mandatory upkeep of the Reserve Fund.


Having been involved in all of these processes for my Clients every step of the way, has provided me with the experience to identify many potential issues and have the professionals and solutions to resolve them.

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