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can I sell part of my commercial property, similar to that of a condominuim sale ?
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I own a commercial building, and need help in maintaining the mortgage. It is a single building but consists of two seperate retail spaces, addresses, gas meters, and light meters, however it has only one pin number.and water meter.
my question is ,how can I seperate it and sell one space and keep the other space, similar to the way that a two unit building is turned condo,and each unit sold seperately ?
Is this situation attainable?
Sell and Rent Back
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1 Comments
July 6th, 2009 at 12:40 pm
I think you could have a joint ownership with someone but I think there are better options too.
Would leasing the other space be enough to make your mortgage? It would be preferable to selling half the property.
Or you could enter into a partnership.