March 22, 2018

The 3 Most Important People You Need for Buying Commercial Property

Purchasing commercial property for sale is an endeavor that requires careful planning and strategy for success. You might have found what you consider to be the perfect opportunity, but if you don’t surround yourself with the right people to help out during the purchasing process you might be setting yourself up for failure. There is a variety of issues you might run into during the process of buying office space real estate, like having a misunderstanding of local environmental issues, lacking knowledge of tax implications from the purchase, and problems with contractors during renovations. We, here at Rakow Group, can help you avoid these problems with our broad range of services and connections in commercial real estate.

We’ve created a list of the three most important people you need for buying commercial property to give you some additional insight prior to making your purchase.

1. An Accountant for Tax Information and Number Crunching

When you purchase commercial property for sale, it’s going to be a large monetary transaction. By setting yourself up with a quality accountant, you can determine the funds needed for the purchase and how to allocate money accordingly in your business. Also, it’s very important to realize that there will be large tax implications from the purchase. The last thing you want is problems with the IRS just because you weren’t aware of commercial property tax code. An accountant can definitely help to ensure you are well prepared prior to the purchase.

2. A Banker for Securing a Loan

Typically, a large office space real estate transaction requires some sort of financing from the bank in order to make the deal happen. You’ll have to provide quality financial statements to the bank to make sure they give you the best interest rate on the loan. It’s extremely helpful if you are working with a banker you can trust. If you have a long-term relationship with a banker, it’s even better. Choosing the right banker to help with the financing can be one of the most important decisions you make during a commercial property transaction.

3. A Commercial Real-Estate Expert to Handle Everything Else

Sure, bankers and accountants are important in any commercial real estate purchase, but wouldn’t you like to have someone with over 30 years of experience helping you out during every step of the purchase? Rakow Group’s commercial real-estate experts can guide you towards making great decisions and help you avoid common pitfalls. A commercial real-estate expert is someone who can answer all of your questions and provide priceless guidance during the purchase of a property.

For more information or a consultation, call us now at (914) 758-0220.