Commercial property not selling can be a frustrating experience for owners and investors. The property market can be unpredictable, and various factors can contribute to difficulties in selling commercial property. Let’s explore the common issues and potential solutions to help you with this challenging situation.
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You can market the property with a commercial estate agent of your choice, but it is important to make sure that your agent understands exactly what you are looking to achieve.
It can be useful to provide your commercial estate agent with the initial relevant facts to assist in marketing your commercial property. Your agent will normally add detailed descriptions and photographs.
However, bad-quality photography and inaccurate descriptions are unlikely to interest potential buyers, and you may find your business property doesn’t sell as quickly as you expected.
Why is my commercial property not selling?
Let’s examine the key reasons your property might not be attracting buyers.
Is the price right?
If your property isn’t generating interest, you might be asking too much. It’s easy to overestimate your property’s value, but ultimately, it’s only worth what a buyer is willing to pay. Consult with a local estate agent to see what comparable properties are fetching. You may need to consider adjusting the price to attract more interest.
How’s the property’s condition?
Be objective about your property’s state. Buyers are often reluctant to take on extensive renovations unless the price reflects the work needed. If your property is looking tired, it might be worth investing in some improvements. A fresh coat of paint and general tidying can make a significant difference.
Are you marketing effectively?
Simply putting up a ‘For Sale’ sign isn’t enough in today’s market. You need a strong online presence. Invest in professional photography – poor quality images can deter potential buyers. Ensure your estate agent is proactively marketing your property. They should be earning their commission by getting your property in front of the right audience.
How can I improve my chances of selling?
Let’s consider strategies to increase your property’s appeal and attract buyers.
Should I change my estate agent?
If your current agent isn’t delivering results, it might be time for a change. Look for an agent with extensive experience in commercial property and a proven track record of selling similar properties. Don’t hesitate to ask for references – a reputable agent will be happy to provide them.
Would flexible terms help?
Sometimes, unconventional approaches can make a difference. Could you offer a lease with an option to buy? Or perhaps consider owner financing if the buyer is struggling to secure a mortgage. Being open to creative solutions might help finalise a deal.
Is it time for a price adjustment?
This can be a difficult decision, but if your property has been on the market for an extended period without interest, you might need to consider lowering the price. It’s often better to sell for a slightly lower amount than to have your capital tied up in a stagnant property.
What are common commercial property selling problems?
Let’s address some typical challenges in commercial property sales.
How do economic conditions affect sales?
The economy can significantly impact commercial property sales. When economic conditions are uncertain, commercial property sales often slow down. Stay informed about economic trends and be prepared to adjust your strategy accordingly.
Are there legal or regulatory hurdles?
Commercial property transactions can involve complex legal requirements. Ensure all your documentation is in order – you don’t want a sale to fall through at the last moment due to overlooked regulations.
How do I handle difficult tenants?
If you have problematic tenants, address these issues before putting the property on the market. Prospective buyers will be deterred by the prospect of inheriting tenant problems.
What should I do if I’m unable to sell my commercial property?
If you’ve exhausted all options and your property still isn’t selling, consider these alternatives.
Is leasing an option?
If selling isn’t feasible, consider leasing the property. This can provide income while you wait for market conditions to improve.
Should I consider a joint venture?
Partnering with another investor could bring new perspectives to your property. They might have ideas or connections you haven’t considered.
Here at Property Saviour, we offer a range of options should you consider a joint venture.
Can I sell my commercial property for cash?
Here at Property Saviour, we guide you through the selling process and continue to stay in touch day to day. We have strong values – firmly believing that selling a property should be hassle-free and efficient, and we aim to get you the best price possible.
Although you must always make an informed decision based on your own personal and financial circumstances, the advantages of selling commercial property to a cash buyer are many:
- No long waits for commercial agents to find you a buyer
- You save on rent, business rates and utilities by disposing of the asset quicker
- We advise you on legal issues such as structural defects, squatters and lease irregularities
- You are free to move on with your life without the ties of property you can’t manage.
Property Saviour team are full-time commercial property buyers supporting commercial property owners across England.
Fill the form below to see how we can help you sell your business property quickly and with minimal effort on your part.
Sell with certainty & speed
Property Saviour Price Promise
- The price we’ll offer is the price that you will receive with no hidden deductions.
- Be careful with ‘cash buyers’ who require a valuation needed for a mortgage or bridging loan.
- These valuations or surveys result in delays and price reductions later on.
- We are cash buyers. There are no surveys.
- We always provide proof of funds with every formal offer issued.
We'll Pay £1,500 Towards Your Legal Fees
- No long exclusivity agreement to sign because we are the buyers.
- You are welcome to use your own solicitor.
- If you don’t have one, we can ask our solicitors for recommendations.
- We share our solicitor’s details and issue a Memorandum of Sale.
Sell With Certainty & Speed
- Our approach is transparent and ethical, which is why sellers trust us.
- 100% Discretion guaranteed.
- If you have another buyer, you can put us in a contracts race to see who completes first.
- Complete in 10 days or at a timescale that works for you. You are in control.