Is commercial property hard to sell? In a word, yes. Selling commercial property is often a tricky business, with more hurdles to jump than you’d find in a residential sale. Let’s go into why this is and what you can do about it.
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Why is it so hard to sell commercial property?
Commercial property sales are a different beast from residential sales. You’re dealing with bigger price tags, more complex legal stuff, and a smaller group of potential buyers. It’s not just about finding someone who likes the look of the place – you need buyers with specific business needs and deep pockets.
How long does it usually take to sell a commercial property?
There’s no one-size-fits-all answer here. It could be a few weeks if you’re lucky, or it might drag on for over a year. It all depends on things like:
- Where the property is
- What kind of shape it’s in
- How much you’re asking for it
- What the market’s doing at the time
What makes commercial property sales so tricky?
These are three primary factors that make commercial property sales tricky:
Show me the money
Getting financing for commercial properties is tougher than for homes. Banks often want bigger deposit payments and have stricter rules. This means fewer buyers can actually afford to make an offer.
Detective work required
Buyers don’t just walk in and fall in love with a commercial property. They need to do a ton of research first. They’ll be looking into things like:
- How much money the property makes (or could make)
- What the planning laws say
- Any potential legal headaches that might come with the property
All this digging takes time, which can really slow down the sale.
The economy matters… a lot
When the economy’s not doing great, selling commercial property gets even harder. Businesses might not be keen to expand or invest, which means fewer potential buyers.
How can I make my commercial property easier to sell?
- Get the price right: Do your homework on what similar properties are selling for. If you’re asking too much, buyers won’t even look.
- Spruce it up: Fix any obvious problems and maybe give the place a facelift. First impressions count!
- Have your paperwork ready: Get all your financial records, maintenance history, and other important documents in order. This will speed things up when a potential buyer starts asking questions.
- Be flexible: Consider offering seller financing or lease options. This could open up your property to more potential buyers.
- Market it well: Don’t just stick a “For Sale” sign out front. Use targeted marketing to reach the kind of buyers who’d be interested in your specific type of property.
Do I need a professional to help sell my commercial property?
You don’t have to use a professional, but it can make your life a lot easier. Here’s why:
| Professional | How they can help |
|---|---|
| Commercial estate agent | They know the market, can value your property accurately, and have connections with potential buyers |
| Solicitor | They’ll handle all the legal stuff, making sure you don’t get caught out by any tricky contract terms |
| Accountant | They can help you understand the tax implications of the sale |
How can I prepare my commercial property for sale?
• Give the place a good once-over. Fix any obvious problems.
• Get all your paperwork in order. This includes leases, financial statements, and maintenance records.
• Make sure the property looks its best. A bit of curb appeal goes a long way.
Is it possible to sell a commercial property without an agent?
Selling a commercial property to Property Saviour offers distinct advantages over using a commercial estate agent or auctioneer. With Property Saviour, you can avoid the lengthy waiting periods often associated with traditional sales methods. Commercial estate agents typically take around 12 months to sell a property, during which time you’re still responsible for ongoing costs like business rates and maintenance. Auctions, while potentially faster, come with their own risks – your property might not reach its reserve price, leaving you back at square one and out of pocket for auction fees.
When dealing with estate agents or auctioneers, there’s always the risk of a sale falling through at the last minute. Buyers can withdraw their offer anytime before exchanging contracts, leaving you in a lurch. You might face pressure to lower your price if the market conditions change or if surveyors raise issues. These scenarios can be incredibly stressful and potentially costly.
Property Saviour, on the other hand, offers a straightforward, hassle-free alternative. We’re genuine cash buyers, meaning we can complete the purchase quickly – often within just a few weeks. We buy properties in any condition, so you don’t need to worry about costly repairs or renovations. Plus, we offer a guaranteed sale price with no hidden fees or last-minute price reductions.
Why not find out how much we could offer for your commercial property? It costs nothing to get in touch, and you could be on your way to a quick, stress-free sale. Give us a call today or request a call back – our team of experts are ready to discuss your options and provide a free, no-obligation cash offer. Don’t let your commercial property become a burden – let Property Saviour help you move forward with confidence.
Sell with certainty & speed
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.
