Sell your Apartment Building
You’ve probably thought about it long and hard,and time has come to sell your apartment building. It’s definitely not an easy decision to make. Months and even years of thought has gone into this. And the time has come to sell the building. There are many reasons why apartment building owners sell their building. Many of them are personal, it could be related to health, family issues, retirement and so forth.
Some apartment building owners want to trade up, often called an up leg , they will sell their apartment building and by another apartment building with more units, for example selling a 10 unit apartment building for 20 unit apartment building.
Trading up requires selling your current building and using a tax deferred strategy called the 1031 exchange. This can make a lot of sense, especialy if there is a lot of equity sitting in the building unused that could be put to better use and higher yielding returns.
Some owners just want to trade down and get an apartment building that is smaller and easier to maintain.
But whatever the case is, we know that the owner has spent a lot of time thinking about this and now is looking for a commercial real estate agent to help them sell their property.
Commercial real estate agents who specialize in apartment buildings are there to ensure the successful sale of your property through a comprehensive marketing campaign by exposing your property to the right group of investors.
Selling Your Building
We start off by evaluating your property. We need to consider how much income your property generates and how much income it can generate in the near future, if rents were raised.
To determine expenses we need a list of the buildings annual expenses. Additionally we will need copies of all the tenant rental agreements, and a copy of your mortgage statement if you have a loan.
Marketing of your building, includes a placement in CoStar, MLS, Loopnet.com, and various real estate websites. All of the important data that an investor needs to evaluate your building will be readily accessible and downloadable in a customized Setup Sheet.
Selling Your Apartment Building Off Market
You also have the option of having your sold OFF MARKET. I can explain the pros and cons of doing this. As 70 % of Apartment Buildings are actually sold OFF MARKET.
Once we have offers coming in, we will review them and I will make recommendations on which ones to counter and what terms to put in the counter.
If you have further questions or would just like to have a chat, please give me a call at(818) 287-7710 or email me at firstname.lastname@example.org
I look forward to hearing form you.