There are wide varieties of commercial Property for instant office space, retail shop, mall, hotels, shopping centre, warehouses, etc. Before purchasing a commercial property, there are several things to consider. Very few, but important tips on how to buy commercial property:
- You must have some cash as down payment for commercial property you are going to buy. Normally it is 20% of the property rate.
- You need to map out the time for acquisition of property. Possession/Acquisition takes time even if you have right property and enough cash. You need to consider the time for negotiation process, checking out of environment issue, property appraisal, etc.
- Gather higher information on commercial property and hire qualified property inspector to check the property.
Above mentioned are the few but very important tips on how to buy commercial property.
