Resources

PREPARING YOUR COMMERCIAL PROPERTY FOR SHOWING

First impressions count. Just a small investment of time and money will give your property an edge over other units when it comes to the time to show prospective buyers. Below are some areas to pay careful attention to when preparing to show your home to buyers.

Have as much information on the property as you can.

  1. Acquisition date
  2. Adequate locks or burglar alarm
  3. Age of building
  4. Annual debt service/interest payments/equity build-up
  5. Any special equipment
  6. Architectural design
  7. Area map with property plotted
  8. Average income per family in the sale area
  9. Bank reference
  10. Certified operating statements last few years
  11. Copies of leases and rental agreements
  12. Copies of management contracts
  13. Deed restrictions
  14. Distance to nearest competitive business
  15. Estimated number of families within service radius of business
  16. Expansion possibilities
  17. Exterior finish and condition
  18. First and junior liens
  19. For sources of information contact public utility companies. Chamber of Commerce, lending institutions, local building department, telephone company, local newspapers and u.s. department of commerce
  20. Heating/age/condition
  21. Inventory of personal property
  22. Keep track of the date any information about the sale was obtained
  23. Landscaping
  24. Legal and accounting fees
  25. Legal description
  26. Lender/address/phone number
  27. Lessee's name/original or sub-lessee
  28. Lighting/intensity level
  29. Loading dock height
  30. Loan balance/as of what date
  31. Loan commitment/amount/interest/term/loan fee/lender
  32. Loan locked in/until when
  33. Loan number
  34. Lot size/square footage or acreage
  35. Median strip/left-turn lane
  36. Monthly payments
  37. Monthly rent/monthly rent per square foot/per front foot
  38. Overage last few years
  39. Owner responsible for exterior maintenance
  40. Owner's attorney/tax counsel/accountant
  41. Owner's name, address, residence phone, business phone
  42. Owner's occupation/is owner occupant of property?
  43. Owner's tax bracket/legal status
  44. Parking lot/number of cars, paving, condition
  45. Percentage lease/method of computing coverage
  46. Photographs of property
  47. Plot plan
  48. Wiring/voltage
  49. Zoning