There are a number of items which you need to prepare after you have listed your commercial property for sale or lease. These may include:
1. Disclosure Document - To make sure that the people looking at buying or leasing your property to keep the information confidential and don’t tell your current tenants if there are any.
2. Information About the Property – Basic overview of your commercial property including size of property, office space size (may be different to the size of the property if there is yard space), type of power (i.e. 3 phase power for construction and machinery or single phase power), water supply, phone lines, access to internet, etc…
3. Are there current tenant and when does this expire? – This is for people who are looking at buying a commercial property as an investment, or if they are looking to move into the property themselves.
4. Prospective Income or Lease Payments and Outgoings for Property – How much can the prospective buyers make from leasing the property or how much will the lessee need to pay for to lease the property off you. Will the lessee be paying for electricity, excess electricity, water, excess water, etc… as a part of the lease agreement? This is essential for both a buyer and lease agreement so that everyone can work out the exact payments required from the start.
5. Contract of Sale or lease – Contract to transfer the ownership of your commercial property to a new owner or leasing agreement for the new leaser.
These are only a few items which need to be prepared before you sell your business or franchise and some of these items can be prepared by Business Brokers/ Real Estate Agent and Solicitors in the sales process. Leasing laws can be different in each state, but for a good overview of what you need to know about leasing a commercial property, please read the following links
The biggest news of the hour is the rising number of coronavirus cases all over the world. The pandemic has surfaced in every corn..Read More
Brimming with people and businesses, Sydney is acknowledged as the financial capital of Australia that boasts of an advanced marke..Read More
The Australian continent is no stranger to the ghastly bushfires, which have been responsible for the deaths of 800 people and bil..Read More
The momentous decision of 7-Eleven putting up another 18 fuel outlets for sale across the country has got the commercial property ..Read More
Combining a beautiful mix of culture, entertainment, art, global eateries and commercial activity, Parramatta is a bustling suburb..Read More
With the World Health Organisation (WHO) declaring coronavirus a global health emergency, fears are mounting about the impact of t..Read More
The last decade has been full of ups and downs for the commercial real estate sector in Australia. While the industry experienced ..Read More
Among the myriad terms that have become mainstream in the digitalised world, virtual reality (VR) is one that has created a furore..Read More
Business owners looking for commercial property are often stuck with the dilemma of choosing between buying and leasing. The decis..Read More
Commercial property is considered a bargain deal as it proves beneficial in the long run with its increased return on investment. ..Read More