Selling Lubbock Commercial Real Estate

It is important to tell the listing agent all pertinent information regarding the property and to fill out the commercial property condition statement. It is important to relay information to a potential buyer. You can ask yourself, what information would you want to know prior to buying a property. Likewise, the potential buyer will want to know the same information or more.

Typical information needed is:

• An existing survey
• Last roof replacement or condition of the roof
• Condition of the HVAC units
• Utility costs
• As built plans if they are available

Your agent will need to know if you have a loan on the property and the approximate balance due. Any difficulties need to be disclosed so that they can be problem solved prior to selling. Ie: If there is a tax or other lien on the property that will need to be resolved prior to selling the property.

Ownership of the property is also important and who will need to sign documents. The title company will want entity documents and a corporate resolution giving permission for a principal to sign paperwork to sell the property.

With an investment property or income producing property, additional information is required to get the highest price for the property.

• Leases and Amendments
• Rent Roll
• Security Deposits
• Pre-paid rents
• Expenses
• Three years of income and expenses showing stability and occupancy trends

These are in addition to the information listed above.