Can you believe that the commercial real estate market size in the United States is a whopping $1 trillion?
There’s no denying how much money you can make by investing in the right piece of commercial property. Are you worried about making the wrong move? Keep reading to learn all about buying commercial property with this step-by-step guide.
Find a Reliable Realtor
Before you think about hunting for the right property, you should note that all successful commercial property buyers work with a reliable realtor. Considering realtors have access to deals and properties you can’t find anywhere else, you’ll be expanding the number of opportunities.
This will go a long way toward finding a commercial property that’s worth the investment. Don’t forget to explain to the realtor what you’re looking for in detail.
Get Pre-Approved for a Mortgage
No guide to buying commercial property is complete without suggesting a mortgage pre-approval. Without it, you could end up missing out on the perfect property. The approval process can take quite a long while, and in that time, the property you have your eye on could be purchased by another person.
The last thing you’d want is to have the property bought up by someone else because you couldn’t get approval in time. One way you can skip the line, so to speak, is by paying in cash. Not only can this expedite the process, but it can also save you money in the long run.
Make an Offer and Negotiate If Necessary
You shouldn’t forget to make an offer. Assuming they don’t accept the offer outright, this can open the conversation for fruitful negotiation. That way, you can end up getting the best deal possible.
Your realtor can help you with the negotiation process and ensure that both parties reach a fair agreement.
Fill Out the Appropriate Paperwork
For you to own commercial property in the eyes of the law, it’s crucial to fill out all the relevant paperwork in the proper way. If you’re missing something or it wasn’t filled out correctly, then that could lead to one or more headaches in the future.
The good news is that this is yet another aspect of the property-buying process that your real estate agent can help you with.
Are You Ready for Buying Commercial Property?
We’re one of the most respected real estate agencies in Florida and Georgia. We specialize in both residential and commercial property. We can help you can find exactly what you’re looking for.
If you’re ready to buy or sell commercial property, reach out to us today.