There’s a laundry list of things businesses should do when buying or leasing a commercial property. These include finding properties in the ideal location, checking if the building is large enough to meet their needs, and looking for units that are cost-effective and suitable for their budget. However, even if you’ve found a property that ticks all these boxes, you shouldn’t get it right away! Instead, you’ll want to reach out to a certified real estate negotiation expert and ask them to go through your lease or purchase agreement.
Why Hiring Real Estate Specialists Is Highly Recommended
Reviewing property agreements might not seem important at first glance, but the fact is that most real estate agreements are created in favor of the landlord or seller. So, if you don’t go over them with a fine-tooth comb, you’ll run the risk of signing a legal document that won’t provide you with any protection if you run into issues later on. You can technically review commercial property agreements all by yourself, but you’ll get better results and save more time if you hire a certified real estate negotiation expert or broker.
This specialist will go through every aspect of your lease or purchase agreement (especially areas that are often overlooked) and look for sections that might not work in your favor. If they find any, they’ll negotiate with the seller or landlord on your behalf, using their knowledge of the latest comparable properties and rates in your area to help you obtain better terms and prices. With the help of your expert Commercial Real Estate Broker, you can save time and effort and enjoy great value for your hard-earned money.
Does Your Real Estate Leasing Agreement Work in Your Favor?
Suppose you’ve found a commercial property that you would like to lease. In that case, your certified real estate negotiation expert will ensure that you’ll have the option to renew and access a reasonable tenant improvement allowance. They’ll also ensure that the annual lease amount increases won’t be too expensive and that you won’t have to deal with sky-high default and late fees.
Is Your Real Estate Purchase Agreement Fair and Reasonable?
Reviewing real estate agreements is more complicated for property purchases since many factors have to be considered. If you’re buying a commercial property, your certified real estate negotiation expert will check the area’s wetland history and read the environmental reports to ensure that the property won’t be at risk of structural damage due to flooding, loose soils, and more. They’ll also look into the site plan, review the local rezoning laws, and search for any possible title insurance problems. Of course, they’ll work with the best commercial property inspectors who will check whether the building is structurally sound.
Reach Out to Real Estate Experts
Reviewing real estate agreements and negotiating better terms and rates are two of the most important parts of property leasing and buying. If you need help with these processes, don’t hesitate to call Levi Smith at PA Commercial, LLC. As an expert Commercial Real Estate Broker, we help our clients find the ideal commercial property and get the best possible value for their money. Contact our team now!