It's lower than last year and the competition between lenders has increased. Most commercial lenders are quoting prime plus two point loans on a 20 year amortization and a half point closing fee and a five year adjustment in rate. These are typically are up to one point over residential rates on a 25 to 30 amortization. They are up to 25 year amortization loans and can be assumed by a qualified subsequent buyer. They usually include up to two points in fees which can be amortized into the loan.
Most buyers don t place much value on untapped income potential if they have to create it.
If the seller refuses to help in the financing, the buyer and lender could make the terms work at the expense of the seller s price. Most buyers focus on terms while most sellers focus on price. When you need real estate legal advice, you go to a real estate attorney who specializes in that area. As a business broker, The Inn Broker, Inc. networks, trains and cooperates with other business brokers. Business brokers focus on selling businesses not residential houses.