What's the difference between commercial and residential real estate?

In Property Management - Asked by Rose D. - Sep 30, 2008
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Answer(s)

Timothy F.
Owner/Investor
Santa Monica, CA

Commercial real estate requires commercial financing and insurance. There are different sales contracts for multifamily properties. There are usually fewer specific legal disclosure forms required. A commercial escrow company needs to be used. All this tends to be more costly than residential. Use commercial specialists whenever possible.

Sep 30, 2008
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Jerry C.
Broker/Agent
Beverly Hills, CA

In California 1-4units or referred to as residential, more than 5+ units are commercial.

Oct 21, 2008
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