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Our extensive Commercial Real Estate Brokerage experience will insure that these pitfalls are avoided. We will stay with you from the beginning of the marketing process through escrow and even afterwards. We can help you locate an exchange property to move your tax deferred money into.

We have extensive resources to help answer any questions that you may have. If we aren't qualified to give you advice we will tell you that. Instead we will give you recommendations as to professionals or the type of professionals you need for expert advice.

We are proud of our very personalized service customized just for you.

Call us any time for a free price opinion on your property. There is never any obligation on your part.

We want to be of help and we want to work for your best interests.

  1. Don't put your property on the market without determining its value That's not necessarily what you would like it to be worth. The market dictates its value, not the past nor the future, only the present. The property should be evaluated on a cost per square foot basis and an income basis at least.
  2. Have you chosen the right Broker? Is that person experienced in Commercial Real Estate? Does that person have a track record selling the type of property that you are selling? Are they experienced in negotiations and dealing with the myriad of real estate issues?
  3. Know how and when will the property be marketed. How many data bases or multiple listing services will it be put on? Will a sign be put up? Will flyers go out? Will there be newspaper advertising? How long will it take for all of these things to occur?
  4. Don't ignore your Broker's communication skills. Is your Broker easy to reach? Does that person communicate well? Will you be leaving messages and waiting for days for an answer?
  5. Don't only focus on the price when the offer comes in. There are many other critical areas to look at. How long are the contingency periods? How big is the earnest money deposit? How long is the escrow? Who is the escrow and Title Company that is specified? How long do they want to obtain a loan? How much does the Buyer want you to pay for?
  6. Don't overlook whether or not the Buyer is qualified? Do they have the money in hand or do they have to borrow it or wait for another property to close?
  7. Don't overlook the fine print. Does the Offer or Counter Offer protect you on the items you are obligated to pay for? Are there definite time frames or are some left open?
  8. Don't assume the deal is done once it goes into escrow. Once escrow is opened you need to know if the Buyer deposited the earnest money deposit. You also need to know if the Buyer is conforming to the deadlines in the contract for inspections, loans and so forth. Are you making the proper disclosures required by law or the contract?
  9. Don't assume the escrow will close on time without checking with escrow consistently during the deal. Has the escrow account been audited prior to the closing date to be sure that everything has been done to prevent a delay in closing? Has the Buyer submitted all of the property paperwork including an insurance binder? Does the escrow have instructions as to how to pay you, via check or wired funds?
  10. Don't wait until you close the escrow to decide what you are going to do with the money. Do you wish to enter into a 1031 delayed exchange for another property or will you take the money and pay your taxes? If you intend to enter into a 1031 exchange, escrow needs to be notified well in advance of the closing date so that proper paperwork is generated and fully executed before the close of escrow. It's a good idea to start looking at exchange properties well in advance of the escrow closing.

Return to Swartz Commercial Real Estate '10 things' series

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