What does it cost if I Sell my Commercial property?
When selling commercial real estate, sellers typically incur several costs. One expense is the commission paid to the Listing office & other Office involved, if there is one, in the transaction. Fees are typically calculated as a percentage of the final sale price and can vary depending on the agreement with the Office/Agent.
Other costs to consider include:
- Marketing expenses to promote the property, such as photography, advertising, and signage.
- May need to invest in property improvements or repairs to make the space more appealing.
- Legal fees
- Closing costs associated with the sale.
- It is crucial for sellers to factor in these costs when determining the listing price to ensure a profitable transaction.