Question : What recourse where commercial property listed as turn key, seller refuses inspection of septic & no electric.?
The potential purchaser found a “turnkey” Commercial property which has been listed for over a year and began the buying process. This was listed as Owner finance a turnkey business (hamburger – hot dog – ice-cream shop). My understanding of a turnkey commercial listing is one that includes everything needed to open and run the business. On the initial potential purchaser’s inspection of the business, it appeared to simply need some cleaning and touch up paint etc for ascetics. At one point in negotiations, a verbal offer was accepted and the purchaser was assured that the seller’s attorney would write up the contracts. Upon the verbal negotiations and offer acceptance the purchaser has sold his home, purchased another home closer to business in order to fix up and run the shop. There was a tentative closing date set, a deposit $ was negotiated and agreed upon, as well as many other terms of the sale and financing. With the inspection and further process owner was told that the septic and water needed a current inspection – The business cannot open without. Suddenly, upon realization of the cost for the septic inspection, seller decided not to sell. Seller has never seen the property, they purchased it for their children to run, and they were not successful. The business does not have immediate electric capacity, as apparently wires were cut in previous months when owner did not pay electric bills. (This was discovered at time of agent inspection – after an offer was approved) It was discovered that the business has not been open for about 3 years.

The purchaser had been laid off from his 15-year job, due to downsizing within his company. Upon which he applied for unemployment, looked for a job, and considered other options. He desired to “get out of the city” and into a quieter atmosphere and the turnkey business opportunity was an appealing option.

With this brief depiction of the events, is there any Legal recourse for the potential purchaser?

home inspection business opportunity

Best answer:

Answer by Steve L
Talk to your attorney but my advise would be to run in the other direction. It appears that the property was the victim of the copper bandits. Electric companies pull the meters not cut the wires