If you are a landlord, an investor or a company who wishes to put a commercial investment property for sale, here are some tips from singerviellesales.com on how to do just about that! Now grab your pen and paper. Take down notes and let’s get started!
- Prep up your property.
You can never leave the space looking dull, dirty and deranged. You have to make the necessary repairs. Clean up the front lawn as much as the building. Change up broken windows, fixtures and lighting as needed. Add a fresh coat of paint, preferably white or beige, should the old one be peeling off or if the wallpaper has gotten bad. Even if the space is quite barren and you’d only see walls upon floors, cleanliness is crucial because no buyer will want to purchase something that doesn’t look functional.
- Have it examined and valued.
Hire a chartered building and property surveyor to assess the asset. Have them determine its remaining useful life, current market value, salvage value if any, structural condition and all other relevant information that prospect buyers are likely going to inquire about. Plus, all of these should help you in determining the asking price on the commercial asset.
- Determine your target market.
Who are likely to want to buy the property? Different types of asset depending on their combined features are likely to attract or interest a certain group or groups of investors. It is your job to find out who these might be and get to know them. You must have knowledge about the likes, preferences and profile of your market to better target your property towards them and negotiate a sale.
- Choose your marketing strategy.
You have to market and advertise your commercial investment property for sale. If you don’t then there are fewer chances for buyers to know about it. No matter how great it is or how attractive your asking price is, if people do not know that it is for sale then they won’t be knocking on your doorstep to buy it.
- Schedule property visits.
When prospect buyers come forward, be sure to give them a little tour to the property. This is why the first item on this list is very important. Now read that again.
- Fix the papers.
Lastly, be sure to fix all documentary and legal requirements necessary to validate a commercial investment property for sale like titles, contracts and the like.