The most significant difference, in general, is due diligence. Residential purchases are subject to general inspections, which are typically completed in a single day. Residential purchases are also less expensive and are more likely to be a homestead. Residential transactions are emotional purchases that can usually be completed in 30-45 days. Commercial property purchases involve property that is used for commercial purposes, so there is more liability in the property and the land associated with it. Because the inspection process is extremely thorough, depending on prior usage, the feasibility period is much longer, and closing on commercial real estate deals can be a lengthy process.