We can work to get you funding in any catergory!
Defining residential property is fairly straightforward.
It includes property that serves as housing or a dwelling, such as single-family homes, duplexes and other multi-family homes. These properties might be located in urban, rural or suburban areas. It is important to remember that while some real estate laws and practices might classify a property in a particular category, the same may not be true for the lender. Multi-family properties of 5 or more units are often considered commercial property in the eyes of the lender, making them ineligible for residential loans.
The next category is commercial property.
Many of us think of commercial property as a site where business or commerce takes place, such as shopping centers and malls, office buildings, parking facilities, hotels, motels or theaters. A buyer seeking commercial property has a different set of questions than the residential buyer. There will be concerns on zoning, parking and cap rates. It is in the best interest of a buyer to seek a real estate professional who specializes in this field, as opposed to a residential specialist.
Industrial property is sometimes confused with commercial property, after all, it has a commercial use. Yet, agriculture and special-use properties also have commercial uses, and they too are distinct categories. Industrial property would include factory and warehouses, power plants or land located in industrial districts. It is not uncommon for industrial property to be used in a manner we might classify as commercial. For example, a retail store might set up shop in a property that is considered industrial, providing local codes allow the use.
Agriculture property includes farms, ranches, orchards and timberlands. Churches, cemeteries, schools and government held land are considered special-purpose.
Special purpose property refers to property that is appropriate for one type of use or limited use. This type of property has unique design or layout, uses special construction materials, or other features that limit the property's utility for purposes other than the one for which it was built. It can be a building with limited uses and marketability, such as a church, theater, school, or public utility. As the property is of a specialized nature, the market for the property may also be quite limited. This is also known as limited-market property or special-design property.
We will work to get you funding up to several Billion dollars if you qualify. Nationwide and International Funding Available!
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