How You Can Sell Your Property in an Environment Riddled with Commercial Foreclosures

If you’re looking to sell a commercial property, it’s only natural to feel a bit discouraged by the seemingly growing number of commercial foreclosures on the market. While conventional wisdom reminds us that there are plenty of people seeking to lease or buy commercial property in Charlotte, there’s also another part of the equation at work on our collective psyche: the knowledge that the more commercial foreclosures there are, the lower the price of commercial property elsewhere – and thus, the lower profit potential when selling commercial real estate.

Pricing your property to sell amid an economic downturn while the reality of commercial foreclosures is threatening to flood the market with low-cost real estate is one of the first things to look at, but it’s not the only solution. Sure, performing thorough and exhaustive research on the local market to determine if you’re asking far too much is critical. But believe it or not, it’s not always your asking price that’s going to determine whether your property sells. There are other things at play here, including knowing how to package your property and working with a commercial real estate brokerage that’s got something far too few these days have: A plan.

Selling commercial real estate during an economic downturn isn’t easy. Anyone with even a reasonably good head on their shoulders won’t expect it to be. Taking any approach other than the one that anticipates a rocky road is ill-advised and can only result in one thing: underestimation of the necessary time and effort it’ll take to part ways with a piece of commercial real estate that could have been moved much faster had an effective plan been put into place. For this reason, as a seller it’s imperative that you work only with a commercial real estate brokerage that displays the ability to plan ahead; that already has a plan in place long before the need for a plan’s even been brought up; that can show you every step of that plan in black and white long before the first step’s been taken.

At Cardinal Real Estate Partners we understand what it takes to sell commercial real estate, regardless of the economic environment. To that end, we have a 221-point due diligence report that greatly increases your chances of selling your commercial property, and also does the following:

• Ensures every conceivable hindrance to the quick and successful sale of the commercial property in question has either been resolved or addressed adequately.
• Anticipates the concerns of potential buyers and draws up a list of alternatives – a sort of Plan B, C, and D – that will keep property sale negotiations moving in the event of a hurdle or a roadblock in the process.
• Develops a solid assessment of the situation at hand. Is the sale of your commercial property at the asking price you’ve got set a hopeless proposition? Or is it entirely feasible? You can’t guess at this sort of thing. An actual assessment will give you the no-nonsense, straight, b.s.-free answer.

For more information on Cardinal’s 221-point Due Diligence Checklist?, visit www.cardinal-partners.com and download our document “The Comprehensive Asset Sale?” at no cost. We’re confident you’ll find a wealth of information that’ll help you in your quest to sell your property, even in the ugliest of markets.

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