Found a single office unit, resale, in a decent building. Broker is vague on financing and just says banks will do it. Is a loan against a single commercial unit resale actually straightforward, or does it depend heavily on the building's paperwork?
Depends heavily on the building's paperwork, the broker's banks-will-do-it line isn't something to take at face value. Banks will ask for the OC, the sanctioned plan, and often the full EC before sanctioning a loan on a resale commercial unit — if the building lacks OC or has unapproved deviations, some banks decline outright or the loan amount they'll offer drops. Ask the seller for the OC copy upfront and maybe even pre-check with a bank informally before you commit earnest money.
Will ask for the OC copy before I put any token amount down.
Also worth asking if the building has any pending litigation, that quietly kills loan approvals too.
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