- Prepare to sell
Get everything in order.
- Gather property documents
- Prepare your property disclosures
- Clean up and make improvements
- Notify/manage existing tenant concerns
- Create and execute a marketing plan and budget
- Hire a commercial real estate agent
A commercial real estate agent will create an effective sales and pricing strategy, prepare seller requirements, and handle buyer negotiations.
- Market the property
How long before you start getting offers depends on local real estate market conditions and how well you advertise your property. Don’t be discouraged if you don’t get offers right away.
- Screen for the best potential buyers
- Review Letters of Intent from candidates
- Negotiate
- Close the deal
Once you agree to a buyer’s offer, there are only a few more steps before you get to the closing table. Take care of any buyer concerns that may pop up. Do not rush.
- Prepare to answer buyer questions and concerns
- Prepare for inspections on your property
- The buyer signs the waiver of contingencies
- Confirm money transfer
