SELL COMMERCIAL PROPERTY
Objective
1
- For Individual Buyers: Determine the market value through appraisals, comparative market analysis, and local market trends.
- For Institutional Buyers: Prepare a detailed property valuation report, taking into account income potential, expense analysis, and potential ROI.
- For Individual Buyers: Gather ownership documents, property tax records, and surveys.
- For Institutional Buyers: Compile comprehensive documentation, including financials, legal due diligence, environmental assessments, and any existing leases.
2
- For Individual Buyers: Prepare a standard listing agreement with terms and commission details.
- For Institutional Buyers: Customize listing agreements based on their requirements, such as confidentiality agreements and terms for due diligence.
- For Individual Buyers: Develop a marketing plan that focuses on property features, potential for small business owners, and investment opportunities.
- For Institutional Buyers: Emphasize property's income potential, location advantages, and scalability for larger businesses.
3
- For Individual Buyers: Respond promptly to inquiries, schedule property tours, and address questions.
- For Institutional Buyers: Coordinate detailed property tours, providing in-depth information about the property's investment potential.
- For Individual Buyers: Provide necessary information on property condition, permits, and zoning.
- For Institutional Buyers: Facilitate access to financial data, lease agreements, and historical performance metrics.
4
- For Individual Buyers: Review offers based on price, financing contingencies, and terms.
- For Institutional Buyers: Evaluate offers considering the alignment with their investment strategy and potential for value-added improvements.
- For Individual Buyers: Engage in negotiations, focusing on terms that suit individual ownership.
- For Institutional Buyers: Negotiate terms relevant to their investment objectives, such as lease agreements, property management, and potential repositioning.
5
- For Individual Buyers: Draft a comprehensive sales agreement with standard contingencies.
- For Institutional Buyers: Customize sales agreements to address specific institutional requirements and due diligence timelines.
- For Individual Buyers: Allow a reasonable due diligence period for property inspections and financing approvals.
- For Institutional Buyers: Facilitate an extended due diligence period to accommodate in-depth financial, legal, and operational reviews.
6
- For Individual Buyers: Coordinate with a title company to ensure clear title transfer.
- For Institutional Buyers: Engage legal professionals for a comprehensive title search and escrow services.
- For Individual Buyers: Prepare standard closing documents, including the deed and bill of sale.
- For Institutional Buyers: Draft complex closing documents considering tax implications, entity structuring, and partnership agreements.
7
- For Individual Buyers: Arrange a standard closing meeting with involved parties.
- For Institutional Buyers: Conduct a detailed closing meeting involving legal representatives, financial advisors, and property management teams.
- For Individual Buyers: Facilitate the transfer of funds from the buyer to the seller.
- For Institutional Buyers: Coordinate fund transfers and distributions based on the investment structure.
8
- For Individual Buyers: Transfer property possession and provide necessary keys and access codes.
- For Institutional Buyers: Coordinate property management transition and tenant communications.
- For Individual Buyers: Archive relevant documents for record-keeping purposes.
- For Institutional Buyers: Organize comprehensive documentation for compliance and reporting.
9
- For Individual Buyers: Seek feedback on the buying experience and property satisfaction.
- For Institutional Buyers: Collect feedback on the overall transaction process, due diligence support, and property insights.
- For Individual Buyers: Periodically review the SOP's effectiveness in catering to individual buyers' needs.
- For Institutional Buyers: Evaluate the SOP's ability to meet institutional buyers' complex requirements and investment strategies.
Terms and Conditions
- Detailed description of the commercial property, including type, size, location, facilities, and any specific features.
- Specifies the sale price of the property and outlines the payment structure, including any down payment, installments, and final payment.
- Ensures that the property has clear and marketable title, free from encumbrances and disputes.
- Allows the buyer to conduct inspections, verifications, and assessments of the property's condition, zoning, and legal status.
- Ensures that the necessary approvals and permits from local authorities and regulatory bodies are in place.
- Statements made by the seller regarding the property's condition, legality, and other relevant matters.
- Specifies the date of property transfer and the process of handing over possession to the buyer.
- Specifies which party will bear various costs associated with the sale, such as taxes, legal fees, and registration charges.
- Addresses the property's compliance with environmental regulations and potential liabilities.
Outlines the procedures for resolving disputes that may arise between the seller and the buyer.
Specifies the documentation that the seller must provide to the buyer upon completion of the sale.
Outlines the process and terms for changes in the property's plans or specifications.
A confidentiality agreement that may be required to protect sensitive information during negotiations.
Outlines the terms and conditions under which either party can terminate the sale agreement.
Specifies the right of the buyer to inspect the property's infrastructure, systems, and equipment.
Clarifies the seller's obligations regarding taxes, fees, and any necessary disclosures.
Specifies conditions under which unforeseen circumstances can affect the timing or completion of the sale.