Every commercial property is unique and for that reason you have to treat it with care and focus as you prepare the promotional campaign. All the information relating to the property, the local area and the place your property makes in it will be needed. You have only one chance to influence property buyers so preparation is the key to promotional success.An unanswered question can break the momentum of the buyer; it can make them rethink their actions and choices. Having all your information together will help you greatly to attract and close the sale.So what can you do to bring all the information for the property together? Here is a checklist to gather information and help you on the way.Get together all the leases for the property and check them off on a tenancy schedule.
Inspect the property yourself in great detail. Make the notes of the critical issues and questions that need to be addressed.
Understand the construction detail for the property and the current functionality of the property. Include the services and amenities that serve the occupants.
Review all income and expenditure detail for the property so that you know that it is accurate in all respects. Look for capital expenditure items that may have been incorrectly placed in the expenditure cash flow; get them removed if that is the case.
Get property title detail and associated plans and drawings of the current property. This should include site and also floor plans where the property is larger and involves many tenancy areas. As part of that get any survey drawings to back up your calculations and information.
Ask the seller about any orders or notices relative to the property that may impact property usage or risk. These orders or notices may have come from local instrumentalities and building authorities. Any outstanding orders or notices can be a hurdle or problem in the sale.
Get the history of the property together. Many a buyer will want to know about previous occupants and property usage. Industrial property is a special case in point.
Aerial photographs of the region will be very useful in the information memorandum that you will have to put together.
Have some professional photographs of the property done for your brochure and the advert. A great photograph of the property will do great things to your campaign.
Arrears detail and arrears exposure should be minimised. This means that any upcoming expiry of lease should be addressed prior to taking the property to market. The only reason this would not be done is if the property is considered a strong potential for development.
Take a walk and drive around the local area to look for other comparable property with which you will compete. Get the detail of how that property is priced and how it is being promoted. Understand how long it has been on the market and why it may still be on the market. You do not want to repeat any errors made by others.
Put together a summary of the local region and demographics. Your buyers could come from outside the region. Anything you do provide should be checked as to accuracy.So all of this detail helps you ask the right questions of the seller, and provide the right detail to the buyers. When in doubt check all detail again. Do not release the property for sale until you know the facts in every respect.