Selling and Buying Commercial Property is more complex than selling residential property, and the buyers and sellers of Commercial property have a different mentality than those of residential homes. Buyers of residential housing tend to be concerned with the emotions of living in the home, while buyers and sellers of Commercial property view the property as an investment vehicle designed to generate income. If the numbers make sense, a bidding war is likely to occur. If the numbers do not make sense, the sale could be tough. The sales process for Commercial properties is much more business-like, and the buyers tend to be much more sophisticated. They are interested in the numbers, and a professional marketing package is crucial to present your property in the best light.
The sales process looks something like this:
- Sellers Goals / Analysis
- Property Valuation
- Market Promotional Packet
- Contact Qualified Buyers
- Educate Buyers
- Sign Confidentially Agreement
- Give Market Packet to Buyers for Review
- Offer and Counter Offers
- Due Diligence
- Building Inspection
- Negotiation with Lenders / Banks
- Waiver of Contigencies
- Closing the Deal
Call the Lori Bennett Realty Team today at: 416-357-1485 to discuss the options we have available and your unique requirements.