Suppose you’re a property investor looking to sell your commercial property. In that case, you’re in for quite a challenge – it’s virtually impossible to find a suitable property at a reasonable price in any region of the UK. Due to the recession, the commercial property market has taken a huge hit, with some areas seeing property values falling by almost 50% over the past year. This has subsequently resulted in many building societies and banks pulling out of commercial projects and investments, which have caused a severe dent in the market.
So what can you do? Well, if you’re an experienced property investor, you’ll know that finding a suitable property and getting it sold can take time. This is because building societies and banks have realized that they can’t keep churning money like they used to. If you want to sell your Commercial property quickly, you need to use a Commercial property specialist to help you find prospective buyers and make the sale as smooth as possible.
Best Way Selling your Commercial property
The first way to go about selling your commercial property is to look for potential buyers yourself. One of the best ways to do this is to contact a few estate agents in your local area and ask them for assistance. Most agents will be more than willing to help you out; after all, they’re paid a commission for any property they sell.
So Make sure you ask them to list the Commercial property for sale with as much information as possible so that you can be sure that they have a clear view of what it has to offer to buyers.
why not get paid for helping you find buyers?
Once you’ve collected a list of prospective buyers, you then need to contact each of them. Find out from each agent whether they have any plans to visit your Commercial property soon. Get their contact details and ask them to set up an appointment with you.
An excellent Commercial property broker should be able to provide you with a meeting time in your local area. Once you’ve met with your prospective buyers, talk over the whole purchase agreement with them, ensuring that you are fully aware of all the clauses.
Before you officially enter into the Commercial property sale process, you’ll need to employ the services of a solicitor. Most solicitors will find a buyer for you, but it is always a good idea to have one on standby just in case things don’t pan out the way you hoped. Make sure you have a good relationship with your solicitor and tell him everything you know. A good solicitor will also keep you up to date with the progress of the sale, so you’ll know exactly how much work is left to be done. You will also find that he will work as efficiently as possible, saving you time and money.
Inspected the property you are selling
When an assessor has inspected the property, you are selling; you will find that the value immediately increases. This is because the property’s value is based on the property’s area at present and not on previous sales. However, if you use an estate agent to sell Commercial Property. You will still find that they will provide an appraisal based on the new value. Of course, the best way to do this is by having a real estate agent looking over the property yourself before you pay for it.
As with many things in life, you have an outline to follow when buying or selling something that can help. If you were to go around buying or selling the property without a plan, it is easy to get confuse. For instance, you might want to determine whether you will sell by owner occupiers’ market. Whether you are going to conduct an open auction.
In addition, you must also decide whether you’re going to hire a solicitor. If you want to use the two-thirds rule. Using the two-thirds rule, you have to divide the cost of the property by its current market value. Which will tell you how much you will earn or lose from the sale of the property.
Best Ways to do this is to Contact a few Estate Agents
The final aspect that is very important in Commercial property is timing. One of the most common mistakes that many people make when buying Commercial property is to rush into buying it. However, it is essential to wait until the timing is correct because the longer you put it off. The less money you will make from the sale.
Suppose you want to sell your property quickly. In that case, you will find that many different companies will offer to buy your property. And then resell it for you at a reasonable price.
One of the best ways to do this is to contact a few estate agents in your local area. And ask them for assistance. Most agents will be more than willing to help you out; after all, they’re pay a commission for any property they sell.