Distributing an LOI for a retail property.
Off-market deal so I agreed to spend a broker fee.
Arranging on inquiring the seller to shell out 50 percent the fee together with other closing costs.
I know it comes about all the time in residential, but I do not believe I have ever observed an LOI that stipulates the seller pays any of the buyers’ closing prices.
Wanting to know if this is a “no-no” in industrial serious estate?
If not, what’s a fair volume they will not balk at? It truly is a $1.5mm property so I was setting up on inquiring for $30,000 in closing prices.