Friday, July 20, 2012

How to Sell a Commercial Real Estate

If you are trying to sell a commercial property, you will most likely deal with a company rather than an individual. Selling a commercial property requires an expert to handle the process as there is a lot of money involved in this kind of transaction. As the owner of the property, it is important that you understand what information buyers are likely to ask when considering acquiring a commercial property. The major buyers’ considerations are suitability, location, and price. Price on the available square footage or square meters is an important benchmark that purchasers will use to compare your property to others in the same area. Details on the location and suitability make a huge difference as there are different classifications for different types of property. For example, if you are selling a shop in a business district, a fast food chain or a computer store might be interested. Knowing the possible businesses that your property can cater will help you reach niche buyers who would be interested in it.

Commercial property values are recurring. There are four phases to the market cycle and as an owner, knowing which stage in the cycle is a good time to sell can be most beneficial. These phases are recession, recovery, expansion, and contraction. Recession phase is the worst time to sell your property. During this time financing availability becomes unaffordable by many and property prices are its lowest. It is during the expansion stage that financing are very affordable thus it encourage higher bidding and increased selling prices. Selling your commercial property should be carried out by your chosen commercial estate agent to represent you. It is important that you choose an agent with the knowledge and competence in this type of industry. The appointed agent will handle the entire process from advertising, to follow-up campaign, to closing the deal. The whole process may take weeks or months before you can expect a closed deal.

If you need to sell your commercial property quickly, there is one sure way to go. Get in touch with a private land investor like Lucas Properties LLC. Most private investors buy property sans the hassles of traditional selling process therefore you can expect a quick sale. They will make a cash offer for your property and if you accept, the deal is closed.

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