Although there are usually quite a number of commercial real estate opportunities available at any given time, they are not as readily accessible as residential properties. You need to properly navigate the market to find them, and the tips in this article will help you locate these commercial properties.
Regardless of whether you are buying or selling the property, it is in your best interest to negotiate. Make sure that you are heard and that you fight for a fair price for the property.
Use your digital camera to take pictures of the property. Make sure the picture shows the defects (such as spots on the carpet, holes on the wall or discoloration on the sink or bathtub).
Do not hire a broker without finding out more about their past experience within commercial property. Look for brokers who specialize in commercial real estate. Also, consider entering into an agreement that will be exclusive between you and that broker.
Keep your commercial property occupied to pay the bills between tenants. If no one is paying you rent, you’ll be the one footing the bills. If you’re struggling to keep your properties rented, you should consider why that is, and try and fix anything that might be scaring away prospective tenants.
Make sure that any property you’re considering purchasing has access to all the utilities you’ll need. Look for access to water, electricity, gas an a sewer or anything specific to what you intend to use this property for.
When you are comparing different properties, get tour site checklists. After you collect your first proposals from all the property owners, let them all know that you’re looking at other properties before you make your decision. It will likely be to your advantage to informally mention that you are looking at more than one property. Telling the property owner that he has competition for your money might inspire him to offer a better price to encourage you to buy from him.
If you think finding the perfect property is the main hurdle to surmount, you’re wrong. Just a little information can go a long way.