Commercial Real Estate is very different to Residential and should be treated as such. When people look to purchase Commercial Real Estate it’s usually for one of two reasons; the income it produces (rental) or for their own use. As such, it’s important you ensure that any issues relating to the Lease or the building are addressed before you put it on the market.
If the property is leased, this means ensuring your Tenant has paid to date, that they have complied with their responsibilities under the Lease such as servicing Air conditioners & Fire Extinguishers.
Whether selling to buy something else or to reduce debt, you should not sign a Contract without first getting advice from //Adcock’s on the Contract, and from your Accountant or taxation specialist about the financial implications.