Why are commercial real estate loans non-recourse? A non-recourse commercial real estate loan does not give the lender any recourse against the borrower’s personal assets. If the borrower fails to make a payment or violates…
What are the major requirements for a commercial mortgage? Similar to typical mortgage loans, commercial mortgage loans let you borrow money to secure any land or property for a business rather than a residence. Additionally,…
How to prepare to pitch to a bank for a commercial loan? There are key points to understand when asking a bank for a commercial loan. You’ll need to prove that you have a plan,…
What is a commercial finance broker? A commercial broker serves as a liaison between you and the lender, similar to residential mortgage brokers. You can choose to compare business loans from other lenders, and many…
Is it legal to run a business in a residential property? Running your business from home is a great way to reduce overhead costs while growing your business. But it’s important to ensure you are…
What is Anticipatory Breach of Contract? An action that indicates a party’s intention to default on its contractual commitments to another party constitutes an anticipatory breach of contract. The counterparty’s obligation to carry out its…
Can my commercial lease be voided if the property is sold? When a commercial building is sold, the tenets do have a list of rights that will often protect them from eviction. Usually, the act…
Can a landlord keep a deposit if a tenant breaks the lease on a commercial property? In most situations, you must give your landlord 30 days’ written notice if you are the tenant and plan…
When does a commercial lease get voided? Leasing agreements may be void simply due to illegitimate terms. A contract that has been voided is said to be void “on its face,” which means that no…
