Selling A Commercial Piece Of Real Estate

Commercial Real Estate - Selling A Commercial Piece Of Real Estate

Commercial Real Estate

If you have ever sold a piece of residential real estate, commercial real estate sales are pretty much the same. However, in many cases it is much less emotional because you don’t live in your commercial property all day long. If you have a piece of commercial real estate that you are about to sell, this article can help you to think of a few considerations.

For example, you need to know whether you are selling the equipment. If you own a restaurant, you need to determine whether you are selling the stove and other equipment. That can be a challenge, because you might be able to get more money if you rent the equipment to the new buyer. However, the new buyer may not want to rent old equipment. That is something that you will have to discuss, so just be ready to discuss it.

You should also have an appraisal done. A commercial real estate appraiser is an objective person who can give an opinion of value based on comparative sales, depreciation of equipment, and other factors. This can be a great way to find out what your business and real estate are worth. And it’s important to remember that your real estate is not necessarily your business and that they can be valued differently.

You have to be prepared to wait for the offers to roll in. If you’re selling a restaurant, for instance, you need to understand that there is a very small percentage of the population who is looking to buy a restaurant. It might take a while for it to sell.

You have to be willing to make concessions. This is especially true if you have a very unique piece of property that is not used for many purposes. In order to have a sale go through you may need to drop the price slightly, to accommodate someone else. That is why you need to really be careful when you purchase commercial properties as well.

If you are serious about selling your property, you are going to need a realtor. A realtor can market your property better than you can. Not only that, but people often call realtors looking for commercial properties, so if you know a realtor that can help you out a lot.

You have to make sure that you disclose any information that is going to be helpful to the new owner. For example, if you have any old oil drums, don’t just leave them sitting there. You have to make sure that there is nothing out there that will surprise people. That is just the ethical thing for you to do as someone who knows information that could be bothersome in some way.

Selling a piece of commercial real estate is almost the same as selling a piece of residential property. Do your best to make sure that you use the information here in order to be prepared when you are selling some commercial real estate, and you’ll be in a position to profit.

The Truth About Real Estate – Selling

The Realtors

Selling real estate is usually not a complicated process if you know what you are doing. Hiring a professional realtor to help you is a wise choice. This is the realtor’s area of expertise and with such a person you are usually in excellent hands.

The Realtor

First of all the realtor will meet with you to familiarize him or herself with the property to be sold, and then sit down with you to discuss the details. You may be asked to produce the contract you had when you purchased the property and the realtor can look up other pertinent details. Maybe you have a survey, which might be useful to prospective buyers.

If you decide to go ahead and list the property with the realtor, he or she will walk through the rooms and advise you how to show the property to its best advantage. This could mean advice on painting walls, getting rid of clutter or maybe simply re-arranging the furniture. Most of us have too much furniture and a prospective buyer likes it when the place is less cluttered – somehow the buyer can then imagine how it would be with their furniture in the home and their clothes in the closet – which makes it a step closer to being sold. It is often useful to simply put excess furniture, clothes, kitchen items, etc. into storage while the house is on the market. Less is definitely more in this case. The realtor absolutely knows what prospective buyers are looking for.

The realtor will also check out properties in the area that are similar to your own. This way he or she can come up with a market price for your property. You can also tell the realtor the benefits of living in the area – maybe the schools are excellent, for example. The experienced realtor will generally have a good idea of the area anyhow and the benefits of living there.

The realtor will then list the property on the MLS system so other realtors can check into it online and if they have interested clients, make an appointment with your realtor or his or her brokerage company. To this end, your realtor will put a lockbox somewhere outside the front entrance with the house key in it. This is protected by a number which is only given out to other realtors who make appointments to see the property.

The realtor can also have open houses – usually for two to three hours on a Saturday or Sunday. He or she will come to your property, possibly with some flowers or cookies for visitors and will spend the time talking to prospective buyers and telling them the advantages of the property and the area. For example, how long it will take to get to the next transit stop, or how far the local school is, etc.

The realtor will also collect offers and show them to you and give you her advice. If you decide to go ahead with a buyer, the realtor will also go through the contract with you, take the deposit check and also give you advice about local lawyers in case you haven’t got any.