The Best Tips on Financing Commercial Real Estate

Besides residential real estate, there are also bargains in the commercial real estate market as well. Depressed owners are selling apartment complexes and strip malls below market value as well. Before you go shopping for your next piece of property, follow these tips.

• Get your finances in order first. Talk to a mortgage professional to find out the best option to use to purchase a commercial property. Shop around for a lender that will give you the best rate. Any difference in interest rate in the million dollar range can cost you thousands of dollars over a long period of time. You also want to have your mortgage professional ready to close quickly when you find that killer deal because it may not last long. Cash is also king!! The more you put down in cash, the quicker you will get a contract accepted.

· Use a professional negotiator. Sellers and Banks hire listing agents to get them the highest offer. You, as the buyer, want to pay the least and get the most for your dollar. Work with a licensed Realtor that can represent you as the buyer’s agent. They will locate the best deal for you, do the necessary research, and help to negotiate the best terms in your contract.

 

· Do your own homework. Even though you may have a Mortgage and/or Real Estate Professional representing you, still do your own due diligence before closing a transaction or signing a sales contract. There are many websites that can give you public information on properties and market trends. Knowledge is key when navigating around the crazy world of Real Estate. But the more you empower yourself with information, the more lucrative it gets.

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