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Linny

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Posts: 41
Reply with quote  #1 

I have a piece of commercial property which I am considering selling. I also have an interested buyer who has been keeping in touch with me waiting for my decision. He has made an offer and says he is ready to do the deal whenever I am. He says his offer is in line with comparable properties in the area. I would like to verify this to determine if the offer is fair. As I have never sold a piece of property, would an appraisal be in order here? If so, what do appraisal companies actually do and how much do they charge? Any info would be helpful.

OHlandlord

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Posts: 3,730
Reply with quote  #2 

I'm not sure how much an appraisal would cost on a commercial property, they cost about $250 here on residential property.  You might call several real estate agents and ask them to do a comparative analysis of your property to determine a fair asking price.  They will research other recent sales of commercial property in your area and see what they sold for.  Most agents will do this for you for free, because they will then attempt to get you to use them to sell your property.  (You are under no obligation to hire them as your agent after this.  Let them know you might be shopping around for an agent to sell your property.)  But this would be an easy and cheap methos to see what your property is worth in the current market.

citimarkreal

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Posts: 3
Reply with quote  #3 
Where is the property?
Thanks
Al

Al Barkalow
COO
Citimark Companies
http://www.citimarkcompanies.com

marclonsa

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Posts: 15
Reply with quote  #4 

Hello, I certainly agree with you. Thank you very much for sharing your information. It was really very helpful for me.

Thanks



Landlord101

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Posts: 26
Reply with quote  #5 
Yes, an appraisal is in order, but beware: a commercial appraisal is a LOT more expensive than a residential one. A typical residential appraisal runs between $250-400, while commercial appraisals range anywhere from $600-3,500.
If you decide to go the appraisal route, I would have the buyer pay for it, and make sure he's not the one who chooses the appraiser.
Good luck,


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Greg
Aldrich

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Posts: 4
Reply with quote  #6 
Share you property pics and all specification with it,.
Where is located this property,.

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annamarie

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Posts: 5
Reply with quote  #7 
Linny please provide a complete information of your property which you want to sell. you can also take help from a real estate agent. The expert real estate agents always help you to give a good accommodation or properties overview to the clients because they have complete knowledge and info about real estate marketing.
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nicolswilliams

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Posts: 2
Reply with quote  #8 
Hi Linny,

The thing is first you should check out online about the property, and then you can consult with some experienced person.. Don't go fast, first get good information about property like cost, place etc.... Because money consider place..If you have good place to sell out, then the cost of that place should be high...
mariahoustone

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Posts: 9
Reply with quote  #9 
I think you can consult with an experienced person then take any kind of decision.
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Lahen

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Posts: 8
Reply with quote  #10 
Why are you selling your property? Here is a suggestion for you if you don't need of money.
Renting out the property is better than selling because through it you can collect money for your further needs and property alsp up its market price with the passage of time.

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ombuilder000

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Posts: 8
Reply with quote  #11 
In today's mortgage market, getting bank financing can be a real trip. So your first step is to get pre-approved (not pre-qualified) for a loan. Don't even start shopping for investments until you have done this. Pre-approval will (1) tell you how much you can buy and (2) it will make it more likely a seller will accept your offer and (3) the closing is much quicker.

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adalinaabella

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Posts: 3
Reply with quote  #12 
I also think that selling property is there is not any need of money is just worst decision, ever.

You should give it for rent and can continuously money from   your property.
chris011

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Posts: 23
Reply with quote  #13 
I think selling your property is not bad decision specially if you know that you will earn on that property.In part of Helsinki i started selling property at http://www.arvoasunnot.fi/ however i don't have yet client cause those property was really expensive and i can't think who's gonna buy it.
NewerLandlordinCA

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Posts: 11
Reply with quote  #14 
If you contact a real estate agent try to  find the ones that deal with commercial property.  I always get three estimates for everything, even finding a agent.  It's amazing how different they can be.  However if you can make money off of it and still have the property that is always a good way to go. I have learned some  properties are just not worth the headaches. Best Wishes for what ever you decide.
RichardP

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Posts: 14
Reply with quote  #15 
The appraisal depends on the size of your property and will likely be in addition of $400. You can rely on your personal network for closing the sale, but if you want to get the highest possible offer, you need to get it listed somewhere. Good luck!
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