First Time Buyer - What Questions Should I Ask Seller and/or Bank?
Hello, I'm planning on buying a commercial property soon. I'm a small business owner and will be looking for a property where I can live (upstairs) and work (down stairs).  I'm familiar with zoning restrictions so I know it'll be super tough to find a property that satisfies all the zoning requirements. Nevertheless, assuming I discover such a property, what are some fundamental questions I should be ready to ask the seller?  I've purchased a house before, but I'm a little worried I'll overlook something critical when making a commercial purchase. 

(I know this is pretty vague, but any help would be greatly appreciated. Assume I know nothing about Commercial Real Estate. Just trying not to get screwed by the seller or the bank. I'm planning on doing a fixed rate 15 yr mortgage.)
[{"id": "hmlh0qg", "text": "I just did the exact thing mixed use for a residential and my business.  Compared to residential there were a few major differences in financing, mainly that they did not pre approve me as much as they made sure the building would be financially sound.  The loan also was 25% down, has prepayment penalties, and was only fixed rate for the first 5 years.  The closing costs were also higher, as was insurance.  \n\n\nAs for the seller it was almost the same as a residential closing for me.  We did an inspection, haggled over a few small issues, and closed.  The zoning for me was easy to verify and the commercial portion in my opinion was easier to inspect because there are less appliances and its wide open.\n\nIf I were you I would look into an FHA loan, they can do commercial as long as it is 51% or more residential.", "replies": [{"id": "hmnll9d", "text": "Crashcam pretty much laid out the typical commercial loan terms (5 yr fixed, 20-25%, prepayment, etc).  Assume personal guarantee.  Beware environmental concerns.  Make sure the building wasn\u2019t a former gas station, printer, etc.  Last thing you want to do is pay for a Phase 1 report.  Sounds like you\u2019re aware of zoning so make sure to check that.  I\u2019d also start looking for a commercial building inspector to have one ready to call when you find a place.", "replies": [], "depth": 2}, {"id": "hmnvur7", "text": "Also do you want to hold title in an LLC or in your own name?", "replies": [], "depth": 2}], "depth": 1}, {"id": "hmlp3eh", "text": "\"What Questions Should I Ask Seller and/or Bank?\"\n\nSeller: *\"Will you sell me your property?\"*\n\nBank: *\"Will you give me the money I need to buy that guy's property?\"*\n\n(That's pretty much all there is to it).", "replies": [], "depth": 1}, {"id": "hmtfm4a", "text": "You should work with a broker. Doesn't save you anything in the long run not to.", "replies": [], "depth": 1}]