Tips for Selling Commercial Real Estate
A transaction such as the sale of commercial real estate requires careful preparation. It is only natural that both the seller and the buyer want to make a good deal. Tips for selling commercial property to get the most out of your business, avoid risks.
Adequate real estate appraisal
To conduct an independent property appraisal, it is necessary to study the main parameters of this non-residential property:
-type of building;
The cost of a commercial object should not be artificially and unjustifiably overstated, because the buyer always monitors the market and is well versed in the average market price. Overestimation will lead to the fact that the premises will “hang” for a very long time in the “For Sale” section.
It depends only on the seller how the object will be seen by the buyer when viewing. It will be a cluttered, dirty room, where it is even unpleasant to be, or a clean commercial object with the correct presentation – the task of the seller.
Interested in the buyer
The right marketing is part of a successful deal. In our real estate agency “Anest” a whole marketing department is engaged in this. If you decide to look for a buyer yourself, then you should definitely write an ad that will interest buyers. You should describe in detail the commercial object, provide many photographs of the premises and the surrounding area, determine what additional improvements to the object.
It is imperative to put all the documentation in order. Any shortcomings can jeopardize the whole deal. The buyer invests a lot of money in the object and always wants to be sure of the investment. And since no one pays attention to their word of honor in such matters, the documentation is a necessary guarantee. For example, a potential buyer may be scared off by the lack of ownership of a commercial space, unauthorized redevelopment, and more.
It is necessary to prescribe in detail the cost, period and procedure of payment in the purchase and sale agreement. In addition, it is discussed in advance and indicated who will pay the associated upcoming costs.
Our experts are always ready not only to give good advice on the sale of commercial real estate, but directly engage in its sale and search for buyers. Thus, saving you from exhausting procedures and legal nuances.