26 May 2012
Posted by Dennis under: Key West Commercial Real Estate .
Take some digital photos of your property. Each photograph should clearly depict the point of contention, whether that happens to be a stain, hole or other problem.
During the commercial loan process, the person who is the borrower will need to order the appraisal. You?re not going to be allowed to use this later by the bank. Cover yourself and your interests by ordering it yourself.
Remember that size is everything when you are shopping for a permanent space for a growing business. Unless you plan to move a few years later, look for a property that is large enough for your business to grow.
Create or purchase an inspection checklist before starting to evaluate properties. Tour each potential property, and check how well it meets the requirements on the list. Whilst you can take the first proposal responses, make sure that you don?t go any further without first informing the property owners of your plans. Make sure that the owners are aware that you have other options available. It may help get you a better deal.
Pay attention to the environment your property is in. Should a problem with environmental waste ever occur, it is your obligation to properly clean your building and property. Are you considering buying a property within a flood zone, which can effect your insurance, storm water drainage and possibly impede future growth potential? Be sure to consider this issue very carefully. If you are thinking about purchasing a property, be sure to contact an environmental assessment agency to get important information.
As you have seen, commercial real estate can be a very lucrative investment. You will be able to avoid common mistakes and make good decisions if you apply these tips.
For more information about Key West Commercial Real Estate contact Gary Smith at http://www.keywestlifestyle.com
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