Assignment 5 Instructions
This assignment should be done after studying Unit 9 and completing the quiz for that Unit. It is worth 10% of the final course mark.
Find online a listing of commercial or industrial (not residential) real estate (land or land plus building) for sale in Canada. Do not use the sale of a business unless the business includes land or land plus building which is owned (not leased) by the business. Use a freely accessible site such as MLS Listings (https://www.icx.ca/index.aspx). Read the listing and any linked information carefully and then copy the link to that listing and paste it at the beginning of your submission.
Assume that:
you are a potential purchaser of that property for the purpose of operating a different business than it is currently being used for
you will rely on mortgage financing which you have not yet obtained.
Are there any precautions you would take to investigate the property? Explain what they might be and why they would be done. How are the steps to be taken affected by the location of the property in Canada?
If you decided to proceed what special terms would you want added to the agreement of purchase and sale? Explain their purpose and function.
Assuming everything goes well, what steps would be taken to close the sale? How are the steps to be taken affected by the location of the property in Canada?