If you are considering selling off your commercial premises, there are many important tips to consider to land yourself the ultimate deal. First of all don’t try to sell off your property in haste. Take ample time to land the perfect buyer with much favourable conditions. Consider the tips below for a profitable deal.
When selling a premise that is on lease make sure that you are offering it to sale shortly after the lease agreement was renewed. Because most property investors believe that premises on long term lease contracts generate more long term income and are a steady source of income in the long run. So you’re more likely to land a better deal in this time period. Also make sure your lease agreement is on favourable terms to the owner(s) which would make the premise more buyable.
Make sure to advertise your commercial property in the appropriate Medias and manners. A successful Ad campaign can drive up the value of your property inevitably. Make sure to hire a professional photographer to take the snaps as attractive as possible. Also make sure to get the estimate of your business premises value from professional business valuers to avoid any mishaps of being accused of trying to obtain an unreasonable price for the premise. Which may tarnish the business image as well.
Refurbish and Renovate
Beauty is the key. Even though the location holds the actual value of the premise. The outward structure and look of the property definitely adds to the value of the premises. Get an independent valuer here to assess the value of your business premise. Then check the cost of refurbishing and renovating the premises. If you can get a better profit margin after the restructuring then go ahead with the repair work if not leave it aside.
Yes. As surprising as it sounds superstition prevails! When buying a commercial business premises most business owners don’t want to buy an office space that has a bad reputation for having businesses continuously close down. Most wonder if it would be them, next as the businesses locating there are bound to close down. So try to kill out any rumours circulating about your business premise. Make the records clean. You don’t want to underprice your business premise because of some stupid rumour.