ISLAND COMMERCIAL · FIELD NOTES
What to prepare before selling commercial property
A practical starting list for commercial property sellers: property facts, leases, income and expense records, decision-makers and timing. Discuss what applies to your property with Albert Wang.
1. The decision and the decision-makers.
Explain what you are considering selling, why you are considering it now and who is involved in the decision. Note the difference between an ideal timeline and a fixed deadline.
2. A basic property description.
The address, approximate space, current use and occupancy are enough to open the conversation. Identify the source of any measurements rather than treating an earlier advertisement as confirmation.
3. A record of what is available.
- Current leases and relevant amendments.
- Property, maintenance and improvement records.
- Operating information that may be relevant to the property discussion.
- A list of known issues and documents that still need to be located.
4. Questions to resolve before launch.
Ask what must be verified, how the property would be presented, what work should be prioritised and how pricing would be supported. Establish who is responsible for the next action and when it should happen.
5. The right channel for sensitive information.
The first enquiry should stay brief. Discuss an appropriate way to share confidential records after the service scope and working arrangements are clear.