Best way to sell a privately owned office building in Northern VA?
March 6, 2014 6:12 AM Subscribe
There is an 4-story commercial office building that we'd like to sell. The building's tenants are professional businesses. We'd like to sell the building as soon as possible. Teach us how?
posted by anonymous to Work & Money (9 answers total)
We've had the property appraised and inspected.
We've gone through four different brokers, where the first three seemed to idle their time and not generate any leads. The last one matched us up with a potential buyer, who drafted a pre-purchase contract, where the buyer had 80 days to perform his own inspection and secure a bank loan. The offer this buyer made was acceptable to us.
Buyer pulled out, however. Not sure on the reasons why, yet, but hope to gain some information soon.
I know little about selling commercial properties, and stepped into this as a consultant to try to get the building sold. I consulted some other folks, who recommended finding the biggest commercial real estate companies only, and working with them, as they'd have more exposure.
Does anyone here have any advice on what we should be doing, exactly, apart from contacting other brokers from larger companies? Things to watch out for?
Your recommendations would be much appreciated!