Buying Your First Commercial Property: What to Do Before Escrow Closes

Описание: Thinking about buying your first commercial property? In this episode, Pacific West Mortgage Fund founder Mark Granger and his son Patrick — a first-time commercial buyer — walk through the real-life purchase of 18121 South Broadway in Carson, CA, a 12,000 sq ft industrial building that had been vacant for nearly 20 years. From the purchase agreement to environmental reports, they share the exact steps every buyer needs to take before escrow closes — and the costly mistakes to avoid.

Whether you're a broker, investor, or first-time buyer, this checklist could save you from some very expensive surprises.

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Timestamps:
0:00 — Introduction & Property Overview
1:57 — Step 1: Finding the Building & Getting It Under Contract
5:21 — Purchase & Sale Agreement Tips for First-Time Buyers
8:01 — Step 2: Ordering the Title Report
9:39 — Step 3: ALTA Survey (What It Is & Why It Matters)
10:57 — Step 4: Environmental Reports (Phase One)
13:34 — True Cost of Buying: Purchase Price Is Just the Beginning
17:40 — Step 5: Forming an LLC to Take Title
19:57 — Step 6: Funding the Deal — Private Money vs. SBA Loans
22:10 — Step 7: Fire & Hazard Insurance Before Close
24:52 — Full Checklist Recap
26:18 — What's Coming in the Next Episode

Pacific West Mortgage Fund is a direct private money lender based in Southern California, funding business-purpose loans across CA for over 20 years.

Disclaimer:
The information provided in this podcast is for general informational purposes only and should not be considered legal, financial, or regulatory advice. While we strive to present accurate and up-to-date information, environmental laws, regulations, and industry standards are subject to change and may vary by location. Listeners should consult with qualified professionals, including legal advisors, or regulatory agencies, before making any decisions based on the content discussed. The views and opinions expressed by the hosts and guests are their own and do not necessarily reflect those of any organization they may be affiliated with. The podcast assumes no responsibility or liability for any errors, omissions, or outcomes related to the use of this information. By listening, you acknowledge and agree that you are responsible for any actions you take based on the discussion in this podcast.