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Realty News – Commercial Real Estate Tips for 2016

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With economic growth forecasted for 2016, this year is shaping up to be the ideal time to negotiate significant commercial real

estate transactions between buyers and sellers. Although commercial real estate can be an entirely different ballgame than selling

residential properties, you can still do well in the upcoming months by following the same trajectory: researching the market and

staying abreast of current trends.

Look for Motivated Sellers

Depending on your target area, certain commercial properties can languish on the market for an unbearably long time. A

motivated seller wants to make a deal and wants to close within a reasonable timeframe. The ideal seller of commercial real

estate will have a grasp on the market value of the property and be willing to negotiate the price.

Be Involved in the Appraisal Process

Finding a knowledgeable and professional commercial real estate appraiser is a must for agents. An appraiser will have to

research a large amount of past and current records to determine a fair market value for the commercial property. Appraisers not

only look at the inspection report and comparables in the area, but will also review zoning records, past ownership details, sales

data, rentals, and replacement costs.

Double Check the Documentation

Selling a commercial property requires a lot more legwork than listing a residential home. Buyers of commercial property are

taking a financial risk and want to know that their investment is protected. The most basic paperwork you should have ready for

prospective buyers includes lease copies, title deed copy, work permits, tax bill copies, utility bill copies, and prior appraisal

documentation.

Curb Appeal

Curb appeal is a must no matter when you’re planning to sell a commercial real estate property. Serious buyers are going to be

discouraged if they spot major problems with a property. All areas of a commercial property should be thoroughly cleaned and

inspected with the seller addressing any problems before listing the property.

Become an Expert

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2016 is the time to strengthen your expertise in the commercial real estate market. The National Association of Realtors offers

specialized training to become a Certified Commercial Investment Member. These seminars offer a wealth of knowledge on

commercial real estate negotiations, transactions, and market analysis.

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