While
selling commercial properties a broker needs to be careful. While there are some problems that are
outside the control of a seller, there are other mistakes that the seller can
avoid by all means. Here is a run-through
of the common expensive mistakes the ‘commercial real estate’ sellers make and
ways to refrain from making them avoid impacting your business.
· Ignoring the Tenant Defaults: One of the common mistakes the brokers make is not
disclosing the defaults of the tenants. Before you sell commercial property in DFW you
must look into the fact that all the rent payments are done by the tenant. However, the buyer would come to know about all
these issues. Thus it is better to disclose them beforehand to avoid
jeopardizing the deal.
· Improper management of the Financial
Records: It is the responsibility of the
realtor to advice the client on ‘tax return’ for the previous year before
selling the property. Avoid the temptation of piling on the expenses for
eliminating the taxable income. You must even classify properly your
expenses. Depreciate the tenant
improvements as well as the capital expenses.
· Overpricing Your Property: It
is not easy to determine the ideal price
for your commercial property as all properties are unique. Every submarket and
market has various buyer demands which are
not evenly spread across the different property types. It is foolishness to
charge an exorbitantly high price of a property as that would discourage
initiation of any conversation with the buyers. Thus you must be honest about
the asking price you set for your property after researching the market
thoroughly. You must fix the price 10% more than the range of sale price you
expect.
Thus
for selling your commercial property at the best market price, you must higher the services of competent commercial real
estate brokerage company. One of the reputed brokerage companies is TAG
Industrial. We have a remarkable team of professionals that comprise of the industrial analyst, research analyst, market
coordinator, director of the strategy,
financial analyst etc. Our professionals work as a team to sell commercial
properties at the best price. You may avail our services to sell your property
at a good price.
