Question: A client has asked you to represent them in the purchase of an industrial property for their start-up organic sun protection products. They plan to

A client has asked you to represent them in the purchase of an industrial property for their start-up organic sun protection products. They plan to expand their product line to include international sales. They explain that they have a limited budget and tell you their price range. You recommended they consider buying a small industrial condominium unit. You show them a few different units before they decide to place an offer on a unit that suits their floor layout requirements for product research, development, distribution departments, and ample parking for customers. Which two conditions should you advise the buyer to include in their offer, and why? Select one answer: * I should advise them to include a zoning condition to ensure that the intended use is prohibited and a financing condition to ensure that their investors are confident with their business plan. * I should advise them to include a condition on the buyer and the buyer's lawyer reviewing and being satisfied with the status certificate and a condition for the buyer's review of the agreement of purchase and sale to ensure the buyer has expert legal advice on the transaction. * I should advise them to include a condition for a feasibility report to ensure they are satisfied that the unit is structurally sound and a condition to obtain a severance if they need to generate extra income by selling part of the property. * I should advise them to include a condition for a review of service contracts so they will be aware of additional expenditures and a condition for a phase 2 environmental site assessment to verify that the unit is contaminant-free and appropriate for the manufacture of sun protection products.

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