Precautions to Consider When Purchasing a Property in Canada for a Unique Business

Investigating the Property

1.Assume that as a prospective purchaser:
oYour plan is to open a unique business that is quite different from anything that has been carried on in the premises before and which may require rezoning.
oYou will rely on mortgage financing to complete the purchase, which you have not yet obtained.
2. Are there any precautions you would take to investigate the property? Explain what they might be and why they would be done.
3. How are the steps to be taken affected by the location of the property in Canada?
4. If you decided to proceed, what special terms would you want added to the agreement of purchase and sale?
5. Explain their purpose and function.
6. Assuming everything goes well, what steps would be taken to close the sale?
7. How are the steps to be taken and the documents used affected by the location of the property in Canada?