A collection of tips on how to begin with buying or selling commercial real estate makes the perfect starting point for a beginner to emerge. This article is filled with useful tips designed for beginners who need to learn the basics of real estate transactions.

Some factors to consider before making a big investment into real estate are the expanding or contracting of nearby employers, local income levels, and the rate of unemployment. Your house will sell more quickly and at a higher value if it is near a university, hospital or any large employment center.

Use a digital camera to document the conditions. Make sure the picture shows the defects (such as spots on the carpet, holes on the wall or discoloration on the sink or bathtub).

Real estate deals must include inspections, so check the credentials of the inspector. Pest removal companies should be closely checked because many non-professionals do this work. Reviewing credentials will help you prevent major issues after you make the purchase.

Commercial Real Estate

Make sure that the commercial real estate you want to purchase is equipped with connections to all of the utilities you’ll need. The property must have access to electric, water, sewer and maybe gas for it to be a viable commercial real estate purchase.

Before negotiating a lease with a commercial tenant, work on narrowing down the list of things that would constitute default. So a tenant can’t default on a lease they sign with you in this type of situation. You don’t want tenants defaulting on your leases.

Be sure to have a professional building inspector go through your property before you put it up for sale. Any problems or necessary repair identified by a professional inspector should be addressed and fixed as soon as possible.

You need to know the details of emergency maintenance procedures. Be sure to find out who takes care of maintenance in the building and also who handles emergency repair situations. Keep their numbers updated, and know how long it takes them to arrive on average. In case a maintenance emergency should happen, you can use the information provided to lay out an emergency business and customer service plan to save your company’s reputation in case your business is interrupted.

Dual Agency

Make sure you try to read any disclosures for your agent. Dual agency is a possibility that you need to be aware of. When dual agency exists, the agency advocates for both parties in the transaction. In other words, the agency is working for both tenant and landlord simultaneously. Both parties need to clearly understand that the transaction is being handled by a dual agent and consent to this fact.

Hopefully this article has given you a more confident perspective on how you can better handle your commercial real estate endeavors. These tips were put together in the hopes of increasing skill and knowledge, and improving your ability to either buy or sell in the commercial real estate market.

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