Quick step by step on purchasing a commercial/ industrial property



Start by looking through your options


Websites- Such as Trademe, realestate.co.nz and even our James Group website are great starting points during your property search. However definitely advise a James Group agent of your full list of requirements as we often have ‘off market’ opportunities.


Signage- If you see a ‘sale’ sign, feel free to call and enquire! The same goes with a ‘sold’ sign, feel free to call and ask how much it sold for. This will help you to get to know the market and help you evaluate which personal property requirements you are willing to pay for.


Print media- We are in 2019, however newspapers still offer good advertising. The property press has a James group listing in it every week, showcasing some of our best offerings. As well as this the Herald includes a ‘True Commercial’ section which is their commercial property leaflet.


Social media- Follow all of your favourite salespeople on Linkedin/Facebook. They will be sure to post their best opportunities, as well as recently completed transactions. Our Facebook page - James Group ltd, consistently uploads new ‘Deal done’ posts when a property has been sold or leased by one of our agents. This allows you to keep an eye on market activity, and also become aware how quickly properties can be snapped up when listed with our agents.



Found a few properties? Get more information!


After this and you have a few properties in mind, start by contacting the listing agent and request an Information memorandum. This booklet is unique to each property and is an accumulation of specific information such as lease details, zoning, floor areas and certificate of tile. It often also includes comparable sales data for nearby/similar properties that have recently sold. This allows you to make an even more informed decision on the property and allows you to rest assured knowing you are offering fair market rate.


Now that you’ve found the one, make an offer!


Start with an offer high enough so that they take you seriously, but that you still have room for negotiation. When making an offer we always recommend having 3 points for discussion. Price, settlement & special terms. One of these will be the most important for you, but by using the others as well, it will draw the attention away from this. Once you are in negotiations, respond quickly but be mindful of the time of day/week/year as these can for you or against you. For example, everyone loves a deal on a Friday, but they can also use the weekend as a chance to deliberate. Lastly, tailor your negotiating to the sale method. If they need your best and final offer, or it is a multi offer situation don’t muck around or you may miss out!

Similar blogs
SUBSCRIBE TO OUR MARKET UPDATES
Subscribe