Yeah it's nice people come and ask questions here but do you really want an answer from someone online after all of this?

This is pretty serious and a lot of money you're talking about so it's best to look for someone who has credentials as an expert in this area.

Commercial questions are beyond the scope of this forum..
It's probably best to contact a lawyer that works in the commercial real estate field.

Hi I need some advice. Two years ago we decided to sell our home and buy a commercial property. Home with a variety store attached and decided to use a mortgage broker. Did my home work called around asked there fee some said 1300. some said 800.00 but one said nothing I am paid by the lender, and I am appalled that some brokers still charge a fee he said. We hired him gave him all the details he said no problem. I told him I had a business plan ready he said I didn't need one as the property was vacant he was only applying for a residential mortgage not a commercial mortgage, what the lender didn't know wouldn't hurt him, I questioned the zoning he said I don't need you to tell me my business. Then a week later he called saying he needed the business plan so I sent him one. Then a week later he called and said we were approved for the mortgage of 91,000 I said no we need 110,000 he said he forgot I explained again the purchase price is 135,000 we are putting 25,000 cash that would leave us 25,000 from the sale of our home for stock and equipment. Then he said we needed an appraisal I called the realestate agent he said no probelm would be 1100 and he would set it up and let the broker no. A week later the agent came to pick up the 1100. cheque for the appaisal only to call me later to say we needed 1700. as the mortgage broker had cancelled the guy the realestae agent had set up and hired someone else and it was now 1700. The offer to purchase was expiring at 12pm that night and the appraisal was not back yet we met at the realestate agents office the seller was refusing to give us an extention, but he the agent had just talked to the broker who in turn had talked to the appraiser and they had agreed we should sign off as the value was there and the report would be ready in two days, so we did. Two days later the appraisal was done and the value was not there it showed a value of 90,000 not 135,000 the agent was freaking the person doing the appraisal had never done a commercial appraisal. The bank withdrew the 91,000 mortgage and reissued it at 61,000. Not enough to buy. Called the broker all in a panic and he said I don't need to to reinvent the wheel I know what I am doing and I need another cheque for 1100 we will get another appraisal and because its been alot of work I now want 599. to proceed. feeling like we were stuck we paid it and was told that all was good the mortgage was in place. Sigh of relief we were due to move in two week. Two days before the we were to move we had to go to his office and sign papers. To our shock we were now putting down 42,000 of our money and the broker was putting down 32,000 and the bank 61,000 plus we owed him 5000.00 for his fee plus his legal fees or was not finishing the deal. Furniture was on the truck we were stuck so we signed. He left for vacation and forgot to send the money we were homeless for a week til he got back. When we went to the lawyer it was no longer 9% interest but the broker wanted 23% as it had been alot of work. Now we own a property we could barley afford to stock and buy euipment for but we managed and opened the store with what we had the store failed we did not have enough money behind us to succeed. The mortgage was now up for renewal from the broker we recieved an email he wanted not what the legal papers said but 1142.00 to pay his personal rrsp. And this would be a yearly expense for his hard work. Can I sue him and do I need a civil lawyer or a realestate lawyer. Thank you