What to check before buying


I am getting ready to buy two new office condos. These are about 6 months old. Below are the high level details.

  1. Both have 3 year lease with good tenant.
  2. Cap rate is about 9-10%
  3. New construction.
  4. Good neighbourhood.

I am planning on doing the following for due deligence considering it is the new construction.

  1. Review lease.
  2. Get the property inspected by professional.

I do not have any realtor in between I am dealing directly with owner. Is there anything else I should be checking. I need some advice as there is no realtor in between.

I do not know if they would have a builders warranty but I would check!

It has one year builder warranty. Which expires may 2006