Selling Your Commercial Real Estate In El Paso

Dated: March 22 2014

Views: 15433

There are things you will want to know prior to or shortly after listing your commercial property for sale.  Have copies of all current leases pertaining to the property at hand, including any modifications, supplements or amendments to leases.  Arrange a current inventory of all personal property to be conveyed under this contract and copies of any leases for such personal property.  Prepare notes and deeds of trust against the property that the buyer will assume or that the seller will not pay in full on or before closing.  Make copies of all current service, maintenance and management agreements relating to ownership and operation of the property.   Make copies of current utility capacity letters from the water and sewer service provider.  Electrical capacity is also an important piece of information for  buyers.  Arrange current warranties and guaranties relating to all or part of the property, as well as leasing or commission agreements related to all or part of the property.  Make sure you have the fire, hazard, liability and other insurance policies related available.    The buyer will need “as built” plans, specifications and a plat of the property.  Have available the invoices for utilities and repairs incurred by the seller for the property the 24 months immediately preceding the effective date.  If you are selling your business, a copy of the income and expenses in the form of a statement is required.   A well represented buyer will ask for copies of all previous environmental assessments, geotechnical reports, studies or analyses make on or relating to the property.  Roxanne Tyroch, CNE can be reached at 915-261-4377 to list and sell your property!

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