Selling Your Commercial Property
There are many reasons you would want to sell your property, and you have different options for selling. You could use a traditional real estate agent that says that you should have no problem selling your commercial property or just selling your commercial property to a Philadelphia investor. Commercial real estate is much different from any real estate. When you own a building that generates money from strictly business income, you will need an expert at purchasing a house similar to this.
Understanding the Buyer
Reputable property investors typically close faster than traditional buyers in Philadelphia, Pennsylvania, and pay entirely in cash. Conventional commercial property purchases usually require qualifications from banks, mortgage underwriting time, and property inspection time, and the buyer may not end up qualifying in the end. Usually, no commissions are paid to a buyer’s or seller’s agent, which means thousands of dollars in savings.
The usual commission is 3% per side, so if you’re selling your commercial property for $200,000, you would have to pay $12,000 in commissions alone! That does not include any state transfer tax and closing cost. Most homeowners even have to make costly repairs. Professional property investors also may not charge transaction fees; if they do, they are deficient compared to the commission or closing costs you would have to pay otherwise. They also provide mail-away conclusions, which are lovely for out-of-state owners.
No Preparation Necessary
Professional property investors will usually purchase commercial properties as-is in Pennsylvania. As a seller, you do not have to worry about repairs before closing or any other additional expenses you were not planning on. Some companies do not require inspections when selling your commercial property, making it a genuinely as-is transaction.
Professional property buyers are in it for the investment. They are not expecting to move into the property on closing. Most property investors will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes. Also, you may not even have to clean the property when you leave. You can simply pack the personal items and furniture you want to keep and leave the rest.
Sell With Confidence
When you decide to use a professional property investor in Philadelphia, Pennsylvania, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your property. You don’t have to worry about your or tenant’s business being clean and orderly, just in case, there is a showing.
You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture your tenants are taking and what they are leaving.
Selling to a professional Philadelphia investor is exceptionally straightforward. They will lay out every step of the process and usually have shortened, specific contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the property or the neighborhood.
Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information or if they think the facts were misconstrued. Professional property buyers already know the state of the property, and they are willing to take on that risk without any requests for repairs.
Buying Property 215 is a Philadelphia investor that focuses a lot of time and effort on finding residential property owners to purchase a property from. They have tons of experience in commercial buildings and mixed-use properties with commercial and multi-family residents. Commercial properties are always bought for investment purposes. In Philadelphia, there are plenty of areas that contain mainly commercial spaces. Suppose you own a building in these areas and are looking to sell fast. Then you should contact Buying Property 215. They will make sure you get the best number for your commercial property.