Be Prepared for “You Better Jump On This One”

Be Prepared for “You Better Jump On This One”

I have heard business owners say, “I’ve moved my business before, It won’t cost that much or take that much time to sell, I know what I am doing.”

The industrial real estate brokerage community at large has been saying, quarter after quarter after quarter, that the “market is tight.” “It’s one percent vacancy.” “Rents are going up,” etc,. Although this is true, the noise has been the same for so long now that it seems to have turned into white noise. It has taken tenants and buyers losing out on one or more building opportunities to realize that we’re being honest when we say, “You Better Jump On This One.”

Before the jump, remember that preparation is the key to success when it comes to the rapid sale of commercial real estate. There are several reports to help you stay ahead of the game.

Necessary Paperwork

  • ALTA surveys
  • as-built drawings
  • Phase 1 and 2 environmental assessments
  • property condition reports
  • zoning reports
  • insurance studies
  • tenant lease files
  • income/expense reports
  • appraisal
  • earning potential statements
  • financial details
  • surveys
  • loan documents

Check Title

  • obtain a preliminary title report
  • pay or dispute any overdue taxes or liens
  • search for any pending lawsuits (extremely time-consuming)
  • research for covenants, conditions, restrictions, or other ongoing obligations
  • investigate for a discrepancy in ownership

Taxes

  • plan for and structure a 1031 tax-deferred exchange if the seller intends on
  • selling the property as part of this type of transfer
  • check if all members or indirect owners agree to this proposal
  • possibly restructure ownership before sale

Property Preparation

  • interior cleaning
  • exterior cleaning
  • landscaping
  • parking area repair
  • window cleaning
  • roof report and/or repair, if necessary
  • specific small improvements, if needed
  • HVAC inspection and report

Real Estate Agent

Property owners may choose to sell their property themselves, however here a few reasons why licensed professionals, such as Hutak & DeRousse can be of service to you in your area.

  • Access to appraisals of similar properties
  • Comparable sales
  • Marketing tools & Materials that produce a Sale
  • Multiple Listing Services
  • Maximize Exposure to Buyers
  • Evaluating Legal Disclosures, Contract Negotiations, and Escrow
  • Management
  • Local Market Experts and Off Market Properties

Hutak & DeRousse, a Lee & Associates Team, have real solutions to all of your property needs.

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