Michael Snedeker’s extensive experience in real estate includes securing financing for developers and identifying potential projects for development. As executive vice president at Waltham based-Elite Building Corp., Michael Snedeker, and his team are adept at selling commercial real estate in an out of Greater Boston.
One of the best ways to make properties visible outside of print advertising is to upload videos to real estate sites. With a video posted, a potential buyer can access the property to see if it is something that they are interested in. These videos can also be uploaded to any professional or social media site or blogs.
Make sure to stay abreast of any administrative processes because this can reduce sale time. For example, make sure to have a reliable real estate attorney on hand that can be contacted quickly for processing the title because it takes anywhere between seven and ten days to arrive. Also, make sure to update any environmental surveys if they are older than six months because buyers are going to want up-to-date information to make sure the building does not have any issues.
Other administrative matters to take care of include documents related to the condition of major appliances and structures of the property. Up-to-date documentation related to the condition of windows, HVAC, roof, plumbing, and electricity can move the process of selling a commercial property along.
Finally, compile a file for rent roll and profit and loss statements for the last two years. If the property is being leased, the rent roll will show the remaining time on the lease, and the profit and loss statements illustrate the annual operation of the building.
