How to Sell a Commercial Property in London

Instructions

• 1

  Before you put your commercial property on sale make sure that your building look good. Have the windows clean and remove any doodle. Fix the roof, sanitary pipes and floors. If you’re building have a lawn also clean and trim it. All of these touches will enhance the look of your property and more likely attract buyers too.
• 2

  After that get in touch with a commercial property valuator in order to determine the true value of your asset. Below are some commercial property valuators that are operating in London from where you can begin your search:
  
  (a) Williams Lynch Property Consultants
  
  
  
  
  (b) Daniel Watney Chartered Surveyors
  
  
  
  
  (c) Gilmartin Ley
  
  
  
• 3

  After getting the actual value of your commercial property from the valuator, put up a realistic price in your sale advertisement. Because the buyers which will come your way will be fully aware of both real estate market rates and estimated value of your commercial property.
• 4

  Before contacting a real estate agent or listing your commercial property for sale, write down the strengths of your asset. This includes earning that you get after bearing all the expenses from your commercial property. If you ledgers depict that income in green zone then you’ll get a good price for your asset.
  
  Second strength will be the location of your commercial property. After determining these strengths then, market your property by focusing on location and future income-earning potential.
• 5

  Find a reputed real estate agent, who will help you find a potential buyer. However, before hiring a real estate agent, don’t forget to verify that the agent possesses a good track record and he or she will represent your interests fairly and vigorously. Here is the list of three real estate agents that are providing services in London, which you can add to your search list of real estate agents.
  
  (a) Bunch & Duke
  
  
  
  
  (b) Lambert Smith Hampton
  
  
  
  
  (c) Claremont Estates
  
  
  
• 6

  If your real estate agent fails to bring any potential buyer for your commercial property then, second way to list your property for sale, is through real estate websites on internet. Below are few such websites:
  
  (a) Visit Prime Location Website
  (b) Visit Find a Property Website
  (c) Visit Knight Frank Website
  

  OR

  
  You can hang sale banners or boards of your commercial property in places which are visited by lot of people i.e. markets, shops etc.
  

  OR

  
  You can also list your sale advertisement in local newspapers of London through advertising agencies. Below are some advertising agencies which list such ads.
  
  McCann Erickson Ltd
  
  
  
  
  FK3
  
  
  
  
  Grey London
  
  
  
• 7

  Don’t forget to mention the history and complete details of your commercial property. Also give the reason for selling your property as most of the buyers keep these three things in mind before buying any property.
• 8

  Once you get a potential offer from a buyer, negotiate the terms of sales agreement. If a deal is reached between you and the buyer then, settle price will be specified on the sales agreement along with the earnest money deposited, terms of financing and closing date.
• 9

  To handle this sales agreement and legal papers involve in this deal, you will require the help of a property lawyer. Below is the index of few property lawyers which are practices in the property law.
  
  (a) Child & Child Solicitors
  
  
  
  
  The International Law Partnership Ltd
  
  
  
  
  Arc Property Solicitors
  
  
  
• 10

  At the completion of all legal formalities, buyer will pay you the remaining amount and take the possession of the commercial property.