- Editorial Team
- Comments Off on Sell a commercial property fast
- Blog, Commercial Property
If you want to sell a commercial property fast, there is really only one option. Find a buyer and deal with them directly.
Using an estate agent can be expensive, slow and frustrating. They charge high fees which in some cases can be as much as 3% of the sale price. Further, the seller will have to pay VAT which they cannot recover. Using an estate agent can also be a very slow process. The estate agent has to inspect, measure and prepare details. They also have to send sellers their terms and conditions and fee agreement. This in itself can take weeks. Last but not least, estate agents have to undertake marketing, erect a board, carry out inspections and try to persuade buyers to make an offer. Once they have an offer, which can take 6-12 months, they then have to instruct solicitors. There is then the risk of the buyer pulling out or reducing the price.
There are also some estate agents who claim they will try to get their client the highest price. However, some sell to their friends, family or regular clients which can be detrimental to the seller.
This is by no means an article designed to disparage estate agents. Believe it or not there are actually some good ones out there who have their clients best interests at heart. However the fact remains that the process of using estate agents is slow. Someone who wants to sell a commercial fast will achieve this goal if they can find a buyer. Many buyers now advertise on line and are professional companies. However, in exchange for buying fast, they will usually want a discount. This may sound like a catch but when you compare this discount to the costs you pay when using an estate agent, once cancels out the other.
There are lots of reasons why someone wants to sell a commercial property fast. They may have an urgent tax bill to pay, may be in arrears with their mortgage, may have credit card bills, car payments, school fees, rent, a divorce to settle and so on. Many people today have an asset but no cash in the bank. Further, they are in debt and have several companies knocking on their doors demanding money. This can be extremely stressful and the only way out is for the person to sell their commercial property fast. This is becoming more important in this day and age. We have the highest inflation we have seen for over 50 years, interest rates are rising fast, the cost of living has spiralled out of control and people are struggling to earn money, pay their bills and survive.
Many people and companies claim they can buy a property fast. In reality, this is not the case. Due to the way property is bought and sold in the UK, the process is very slow. However, there are some buyers out there who have found a way to short circuit this process. They are happy to buy without searches, use efficient solicitors, don’t need to inspect and take a view on things which others will make a big deal about. When you find a company like this, and assuming they are genuine, then you have found your knight in shining armour.
You will find it relatively straightforward and easy to find commercial property buyers online. The only decision you will have to make is which one do you decide to sell to.