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The selling experience can be a complex process that can require a large time commitment, negotiation skills, navigating possible personality conflicts and an unwavering focus on getting a good deal. During this process relationships can make all the difference. The team of brokers at Greenleaf Properties have over 100 years of combined experience in the Lincoln commercial real estate market and we put that experience to work for our clients every day.
If you’re looking at selling a commercial property let a Greenleaf Properties broker help you get the most value from a sale. Our process makes sure that you get value from a sale and that all of the relevant factors are considered.
- Analyze your goals for selling and get advice
- Create marketing materials
- Find, contact, interview qualified buyers
- Get a signed confidentiality agreement, then share details of the property and marketing materials with buyers
- Assist with buyer’s due diligence, including inspections
- Negotiate with buyer and bankers
- Prepare relevant sale documents, such as the buyer’s Waiver of Contingencies with your attorney
- Complete closing
Avoid These Potential Pitfalls
1. Not analyzing financial goals
- Getting lump sums of cash can generate capital gains taxes.
- What do you plan to do with the money?
- How much will you need to pay off any existing loan?
- What are fees and hidden costs?
2. Not checking terms of loan payoff
- Are there early payment clauses?
- Is there a due on sale clause? What’s the time limit?
3. Not negotiating properly
- You are negotiating not only with the buyer, but with his or her banker.
- What is the buyer’s motivation?
- How can you leverage your strengths to get the best price?
The best way to make sure that your sale goes smoothly and helps you achieve your goals is to be prepared. In order to do this it’s important to be proactive instead of reactive, and get help from a reputable broker and adviser. As soon as you decide to sell, compile information a buyer will need for due diligence. Do the research and determine your goals for selling the property: Do you want to receive all cash or receive monthly income? Do you want to avoid capital gains tax? How much will you need to pay off your loan and get the profit you need or want? Carefully calculate the costs of selling, including marketing, hiring a broker, making repairs, etc.
If you’d like the guidance of a Greenleaf Properties real estate professional to help you with the sale of your commercial real estate or just have additional questions, please contact us.