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It's Time To Sell: 4 Steps To Take When Selling Your Commercial Property

14 August 2018 by Bradley Davis

If you're going to be selling your commercial building, there are some things you should do before the for sale sign goes up. You want to make sure that you get the best deal for your commercial building, which can be difficult in a saturated market. The last thing you want is to have your building languish on the market while you try to find the right buyers. Here are four steps you should take to make sure you find the right buyer sooner rather than later.

Give It a Fresh Coat of Paint

Now that you're going to be putting your commercial building on the market, the first thing you should do is give it a fresh coat of paint. This is particularly important if it's been a while since you painted your building. You don't want potential buyers to find your building in disarray, with fading paint and chipped stucco. To make sure your commercial building is ready to sell, have it professionally painted by a place like Blue Star Painting Company  – inside and out. Choosing commercial painters for the project will ensure that the job is done correctly.

Repave the Parking Lot

Once you have had your building painted, it will be time to look at the parking lot. If it's old, worn-out, and faded, you'll need to repave it before placing your building on the market. It's also a good idea to make sure you have the lines repainted and the handicapped parking stalls marked properly. You'll increase your resale value by repaving your parking lot.

Choose the Right Broker

Before you sell your commercial building, make sure you start with the right broker. You're going to need a commercial real estate broker if you want to get the most out of the transaction. Your commercial real estate broker will have a working knowledge of the local commercial market and will know how to create a marketing package that ensures the highest rate of success for you.

Get Your Tenants On Board

If your commercial building is already occupied by tenants, you'll want to get them on board with the sale. The last thing you want is to have the tenants sabotage your ability to sell your property, which can happen if tenants are worried about what will happen once new owners take over. Getting your tenants on board can help ensure a successful transaction.

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