Monday, 21 November 2011

How to Buy Commercial Property, Few but Important Tips

There are wide varieties of commercial property for instant office space, retail shop, mall, hotels, shopping centre, warehouses, etc. Before purchasing a commercial property, there are several things to consider. Very few, but important tips on how to buy commercial property:

  • You must have some cash as down payment for commercial property you are going to buy. Normally it is 20% of the property rate.
  • You need to map out the time for acquisition of property. Possession/Acquisition takes time even if you have right property and enough cash. You need to consider the time for negotiation process, checking out of environment issue, property appraisal, etc.
  • Gather higher information on commercial property and hire qualified property inspector to check the property.

Above mentioned are the few but very important tips on how to buy commercial property.

This is only an informative blog post, not a legal advice.

Useful Tips to Buy Commercial Land

This blog will let you know some important things about how to buy a commercial land. Buying a commercial land is much crucial than residential land. Before purchasing a commercial land, investor has to map-out many things. Lots of aspects have to be kept in mind initially such as price, location, convenience, market, legal formalities, business requirements, etc. In this post few precautions of buying a commercial real estate land are mentioned like:

Site size: Before buying a commercial land you must calculate the size of land according to your business requirement and budget. Size matters here as due to every sq. ft. of commercial land costs a lot to investor. So, take care of land size first to make it a better deal.

Select a Merchant: Find out a reliable dealer to buy a commercial land. Without the help of a reliable property dealer, it is very difficult to purchase a commercial land. Commercial land is not easily available and the terms, rules and documentation formalities are much more crucial rather than the residential land.

Examine the Location: Before buying examine the entire location of land. One must take care of the location as all the business communication, availability of manpower, easily transportation, etc. depends on location of your commercial land.

Negotiation: There must be some negotiation in the process of buying commercial land. There is no fixed rate of land anywhere. So, negotiation in price can save lot of money which can help in commencing or re-locating your business. In most of the deals of buy/sell commercial land, negotiation is a successful activity and makes investor happy by saving lot of money.

Legal Formalities: All the legal formalities of buying process of commercial land must be done. If you do not take care of all legal documentation formalities meanwhile purchasing commercial land, your business establishment   may get into some illegal trouble, which may cause you a loss in business.

You must consult with some reputed property dealers in top metro cities like property dealers in Delhi, New York, Beijing, Washington D.C., Canberra, Moscow, Dubai, and more.

This post is only informative, it doesn’t relate to any legal advice.