People can have many reasons to sell commercial property, and there are a wide variety of selling methods. You can try to sell your business property yourself, or sell it to an Scottsdale, AZ investor, among many possibilities.
Selling to an investor may be one method you’ve got at the top of your list. When you choose to sell to an investor, there are surely plenty of immediate benefits. However, that’s not to say it doesn’t come with its own unique challenges.
Keep on reading for the five things you need to know before you start selling properties to an investor in Scottsdale, AZ.
Understand the buyer
Professional property investors in Scottsdale usually close quicker than traditional buyers and often pay the full amount upfront in cash. The purchasing process for commercial properties traditionally requires paperwork from banks. Underwriting inspection times can slow things down, and there’s no guarantee that the buyer will actually qualify for a loan in the end. Commissions are paid to agents representing either party — resulting in thousands of dollars of additional costs.
The typical commission rate is 3% per side, so if you sell your home for $200,000, you’ll have to pay a whopping $12,000 in commissions! In comparison, professional property investors won’t usually charge you transaction fees; if they do, they are much lower compared to the fee or closing costs you would have to pay with an agent. They also allow mail-away closings, which is fantastic for out-of-state owners.
No Preparation Necessary
In Arizona, professional property investors usually purchase commercial properties as-is. This saves you plenty of extra cash for repairs or renovations before closing. Some companies don’t even require inspections for commercial property sales — making it a completely hands-off transaction for you!
Time constraints are also lightened considerably with a direct buyer. The investor will handle all matters after the transaction has already been made.
The main goal for most commercial property buyers is to make a profit. They are not expecting to live in the home on closing day. The majority of property investors will allow you to move out after closing so that you may relocate at your own pace. This can be quite beneficial, especially with such short closing periods. You won’t have to clean the property before you depart; all you have to do is pack your personal belongings and any furniture or equipment you’re keeping, and leave the rest behind!
Sell With Confidence
If you use a professional property investor in Scottsdale, AZ, instead of going the traditional route, you’ll avoid filling your life with unpredictable situations. You won’t get calls during dinner from prospective buyers asking to see your property then and there. Plus, you don’t have to worry about keeping your businesses clean at all times, in case someone wants to drop by for a showing.
You don’t have to be concerned about running into a buyer’s agent or dealing with them asking you questions that you don’t want to answer. You also won’t have to worry about buyers fighting with you over what fixtures you’ll be taking and leaving behind.
It’s simple to sell to a professional property investor. They’ll lay out every step of the process in detail, and they’ll frequently provide short, easy-as-pie purchase agreements. You will also be exposed to less legal risk. You don’t need to think about the buyer discovering something you didn’t disclose, or really anything they don’t like about the property or location.
If a traditional real estate deal goes wrong, the buyer can sue the seller. Professional property buyers know about the risks associated with taking on a fixer-upper and are more than comfortable doing so.
Contact United Home Offer now at 214-817-4224 or shoot us an email to discuss selling your business property to a Scottsdale, AZ investor. We can look over your property and let you know its market value, then get you on your way to selling it.