If you’re looking to sell your commercial real estate fast, there are a few things you can do to make it happen. Here are 5.5 tips in this 3-minute video to help you get started on selling your commercial property quickly.
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TRANSCRIPT:
So you want to sell your commercial real estate fast? How do you do it? Well, I’m gonna give you 5.5 tips today in this video on how to sell your commercial real estate fast. Let’s check it. Okay. So Jeremy Cyrier here from MANSARD. Let’s start with tip number one. The very first thing you want to do is order title.
Title can take anywhere from seven to 10 days to get back. So the first thing you should do is call your attorney and have your attorney or your title company order your title review so that you can find out if you have any unknown or surprising items listed on title that will allow you to quickly address them to clear the path to a quick closing for your right buyer.
number two, environmental environmental reports can take anywhere up to 30 days to 60 days to prepare. And depending on the length of the report, if testing is involved, it could take even longer. So the next thing you wanna do is call your environmental engineering company. In order a report, having the report on hand will not only make your buyer more comfortable with your sale, but it’ll allow you to remove any potential obstacles that you could run into during the sale process.
tip number three, prepare your service history for the property. So this pertains primarily to the roof, mechanical electrical and plumbing, and HVA C systems in the building. You wanna make sure that you have all that information organized, prepared, and ready to give to the buyer. This will allow them to bypass a lot of the questions they may have and to have, and bringing out engineers and.
Inspectors to the property to check out the existing conditions of the property.
Number four, the financials. So you want to organize your rent role and your financial statements as quickly as possible. Have your profit and losses from the last two to three years prepared, those are going to help the buyer quickly underwrite and assess the operating expenses and the history of the. To identify any trends and opportunities for improvements in the operational performance of the property.
Having that information prepared and ready to go will also help you move very quickly through the sale process. Tip number five pricing. When you price the property to sell it quickly, you want to price at market. You also want to be aware of what the trend is in the market. So in the market cycle, which I talk about in other videos, You wanna look at whether you’re in an upward or downward trend in the market.
If you’re in either trend, you wanna price the property accordingly so that you’re not dissuading buyers from coming in and wanting to take advantage of an attractive price to close on your deal and get your sale done fast. And then tip number 5.5 is if you have any questions about how to do this quickly to prepare the path for a smooth and simple transaction.
Contact a commercial real estate broker. They will be able to help you identify the buyer quickly for the property, and also to organize the information that you’re going to need to answer the buyer’s questions so that you can identify the right buyer to pay the right price. So you can close fast and with confidence, if you like this video, like it hit the subscribe button and look forward to seeing you again.
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