3 Tips for Finding and Selling Commercial Real Estate

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The process of finding and selling commercial real estate is a subject that requires years of study and experience to truly understand. For anyone who lacks the specific knowledge about either the subtleties of fluctuating markets or even the situation in a particular region or smaller area, it can be useful to look first at a few fine details to determine how agreeable the circumstances are for the finding and selling of commercial real estate. Here are three general tips:

1. Find a REALTOR® with Familiarity of the Area – A REALTOR® specializing in the finding and selling of commercial real estate can be of great assistance. Someone who combines an intimate knowledge of the area in which you are looking with years of experience in commercial real estate is an invaluable resource. He or she can answer any specific question you may have as you get further into the process, and being versed in local regulations, can help even to make the transactions for you in the correct manner.
2. Look at Local Infrastructure – Paying attention to local infrastructure can determine which properties will be more useful for you. For example, commercial real estate connected to other areas by well-maintained roads or other means of transportation is usually preferable to those that are not so connected. Also be sure to find out about future plans for the development of the area.
3. Pay Attention to the Condition of the Property – The condition of the property should be of the utmost concern; even property in a promising location can be hindered by bad conditions. If you are interested in buying a building of some sort, have it appraised by someone who is qualified to do so. Look for things like age, condition of amenities such as water, heating and cooling, and whether there is any structural damage. Will the building have to be renovated or painted? All of these questions are not so unlike what should be asked upon the purchasing or selling of residential property. If the property in question is undeveloped land, ask questions about the availability of utility connections, construction regulations and what other building and developing plans may exist from other commercial land buyers surveying the area. All of this information can help you make a more informed decision regarding the commercial real estate in question; again, someone with experience and personal knowledge of the area can be of great assistance in virtually every aspect of the process.