Effective communication is vital in everyday life, but when you’re negotiating commercial real estate transactions, it’s especially important.
You’ll mostly likely have lots of questions when creating a proposal and negotiating the deal. You’ll want to be sure to get answers to all of them and you’ll want to make sure you get them in writing. Take notes during in-person conversations. Make sure any communication that’s sent or received via email is saved to a special folder so you can find it easily.
Make sure you’re being clear and concise in your real estate communications, and always be respectful and polite to the other party. It will be easier to get the answers and results you need if you have a cordial working relationship with the person who is handling the sale or lease of a property to you.
You’ll also want to be as prepared as possible when you enter the negotiating phase. Be sure to look at lots of properties to make sure you know what you want and what you can expect to find at different price points. Find out if any other offers have been made on the property, investigate tax records and past multiple listing records.
Beyond just the price of the property or lease, you’ll want to make sure you and the other party are agreed on a host of other property matters: closing costs, the closing date, any financing, appraisal or inspection contingencies, repairs to the property or if any furniture is included.
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Lighthouse CRE can help!
Your real estate broker can help you with every step of the proposal and negotiation process. At Lighthouse CRE, we’ve put together a helpful Lease Timeline Checklist to help you with the basic overview of your property search. If you become a client, we will customize this information based on your specific needs. For more information, contact us today!