Buying commercial property is often the most time consuming transaction for any business. Whether you are a veteran or buying first time, the only difference will be that as a veteran you are prepared for pros and cons whereas the first time buyers learn a lot from this complicated transaction.
Plan well ahead before making any move. A lot of departments are involved in it such as banker, accountant, real estate agent who specialize in your area of focus. Keep certain things in mind as you plan your purchase. What kind of place you need for your business. What kind of locality you want meaning should it be close to transportation so that it is easy for your staff to communicate. May be you want it close to your residential area.
Identifying The Right Property
Identifying the right property is not hard as you just have to understand your needs. You want a place that is close to your customers. First and foremost is the location. But you have to see the potential risk in that too. May be the location you choose is good today but is it also easily accessible to your customers? Also you have to see if there is an opportunity for expansion. Before you finalize the location, you need to do due diligence.
Commercial property is valued differently. You have to revisit your objectives and re-consider whether it is the right investment for your business. Talk to your team of advisors and get their opinion if it is the right investment.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By‐Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the professional real estate services provided by members of CREA.
The content on this website is protected by copyright and other laws, and is intended solely for the private, non‐commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically prohibited. Prohibited uses include commercial use, “screen scraping”, “database scraping”, and any other activity intended to collect, store, reorganize or manipulate the content of this website.
The information contained on this website is based in whole or in part on information that is provided by members of CREA, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members, and assumes no responsibility for its completeness or accuracy.