How To Sell A Commercial Property

Discover how we can help you to sell a Commercial property

Selling a commercial property can be difficult as it involves lots of different steps including preparing your property for the sale market, marketing the sale and meeting with potential buyers, negotiating offers and finally completing the sales process through the correct legal channels that come with their own set of procedures to endure. 

At SmoothSale we buy any type of property, in any location, in any condition with our cash buying service in as little as 7 days. Contact us today to receive your free cash offer and sell your commercial property fast.

How Long Does It Take To Sell A Commercial Property?

Selling a commercial property can take anywhere from a couple of weeks to a year or longer, depending on various factors. A typical timeframe might be 6 to 12 weeks for a straightforward transaction, but more complex deals can take several months.

With SmoothSale we buy any property, in any condition, in any location in just 7 days with our cash buying service, get in touch today to receive your free cash offer.

How Do I Sell A Commercial Property?

If you are selling a commercial property, then there are a number of factors to be aware of. Firstly, you will need to have an understanding of the legislation surrounding commercial property sales, local property values and an awareness of what commercial property buyers are looking for from sellers.

Preparing to sell a commercial property

Just like you would with a residential property, it is important to prepare your commercial property in order to sell it. All clutter should be removed, so your property is presentable enough to appeal to a wide audience and so that prospective owners can imagine running their business from the premises.

Preparing buyer information

Before you begin selling your commercial property, it is important to gather all of the necessary information about your property before placing the property on the open market. Buyers may need to know about:

• Planning Permissions, Use Classes and lawful use certificates
• Commercial energy performance certificate (EPC)
• Details for business rates, stamp duty land tax and any other costs the buyer will be liable for
• Asbestos survey (if applicable)

Commercial Agents

It is recommended that you choose a commercial agent who is a member of an accredited trade body, such as Royal Institution of Chartered Surveyors (RICS).

All reputable commercial property agents carry personal insurances, which covers seller’s damages if you receive negligent advice. A commercial property agent will normally provide you with a detailed valuation report before looking to market your property.

Solicitors

As well as having a commercial property agent, you will also need a solicitor. Your solicitor will be responsible for a number of processes during the commercial sales procedure.

Their job involves looking after any deposits, arranging the exchange of contracts, confirming monies have been transferred and answering any questions you may have along the way

Costs associated with selling a commercial property

Whether you are planning to sell an office or a warehouse, there are costs you must consider.

• Commercial Agent Fees – commercial agents are in competition with each other, so it is worth discussing this with the agent before instructing them to sell your property (agents tend not to change fees much)
• Solicitor fees – solicitors usually carry out conveyancing for a fixed fee, but you may be able to negotiate to a lower fee, so it is worth getting a number of quotes.
• Mortgage redemption fee – if you have a mortgage on your commercial property, and you pay this off early, you may be liable to pay a redemption fee.
• Capital gains tax – you should speak to your financial advisor if you are selling an investment property, as you might be liable to pay capital gains tax.
• Mortgage arrangement fees – if you cannot transfer your existing mortgage for any reason, you may be liable to pay mortgage arrangement fees for any new mortgage you require.
• Removal costs – if you have equipment, furniture or other assets in your commercial property and these are not part of the sale, you will need to arrange for these to be removed at your costs.

Selling A Commercial Property With SmoothSale

You may wish to sell via a traditional estate agent. You will be able to speak face to face with an agent, but it can be a very long process, taking months to reach completion. Sales can fall through due to breaks in the property chain, and you may find it difficult to sell if the property needs refurbishment. 

The more delay there is between the commercial property being valued and completing a sale, the more likely the value will increase, and you will be subject to additional taxes and frees. Traditional estate agents also often have high fees to pay.

You could also sell your commercial property via an auction. However, this can take just as long to organise as it would to sell a flat fast through a traditional estate agent. You may still need to pay fees, depending on the auction house, and you may go through the entire process just to not receive any bids on the commercial property and not be able to sell.

Another option is to use a trusted property buyer, like SmoothSale. We can take away the stress of selling a commercial property via a cash sale. We have the funds ready to buy a commercial property, so we can secure a quick sale for you. With SmoothSale, you’re guaranteed to sell your commercial property quickly as we don’t rely on third parties, and we’re not part of any property chain.

If you choose to sell with SmoothSale, our in-house, expert team will handle all the proceedings for you. We’ll sort all the legal procedures, and you’ll only ever deal with us directly. You can sell your commercial property for free with us as we cover all the legal fees and have no hidden costs.

We can sell a commercial property in whatever timeframe you need, and we can buy any type of property in as little as seven days. Contact us for a no-obligation cash offer or call us on 0113 539 660 to speak to one of our property experts who will be able to assist with your situation.

Selling a commercial property quickly

Selling a commercial property quickly doesn’t have to be complicated. Here at SmoothSale, we aim to make the process of selling a commercial property fast and easy by following this simple process:

• Step 1: Contact us
• Step 2: Match with one of our experts
• Step 3: Get your cash offer
• Step 4: Sell your house for free with ease 
• Step 5: Complete your sale