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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 1151
Experience:  Experience in residential real estate and commercial leases.
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what do i need to start researching when im looking at a 30

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what do i need to start researching when im looking at a 30 acre residential\commercial property that is a historical landmark. it has a restaurant a inn and a three bedroom house. it like to buy it live there and run the inn and restaurant with future projections of another home to be built and to restart the farm that was once on the property
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  J. Warren replied 10 months ago.
Hello! My name is XXXXX XXXXX I look forward to helping you today.

If you have not done so already, review the recorded deeds to the property. You would want to review the chain of title and what easements or other encumbrances are present that run with the land beyond the restrictions of the historical society.

The Secretary of State will have the business entity registration. You will want to review and make sure that the person you are dealing with has the authority to discuss the sale with you and you will want to determine what type of entity the business is being ran under and what entity the property is titled under. For instance if the land is owned by a corporation there would be different tax implications than if the land is owned personally or in trust or as an LLC.

This would just be preliminary things you can review in order to formulate a letter of intent in which you would then perform complete due diligence on the property/business such as business records, environmental studies, etc.

You may be able to find some financing alternatives with the Connecticut Department of Agriculture. The Department has a pretty informative website: www.farmlink.uconn.edu/pages/financing.html


All my best & encouragement.

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J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 1151
Experience: Experience in residential real estate and commercial leases.
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