If the Time Has Come to Sell a Commercial Property, Here Are the Steps Sellers Should Take

Real Estate attorney and chair of Pullman & Comley’s Commercial Finance practice, Joshua S. Cole, authored the Westfair Business Journal article, “If the Time Has Come to Sell a Commercial Property, Here Are the Steps Sellers Should Take.” In the article, Josh explains why certain commercial properties, particularly manufacturing, industrial, and warehouse facilities near major highways, are seeing strong demand despite a softer overall commercial real estate market. He emphasizes that owners may want to consider an opportunistic sale while market conditions remain favorable and outlines how early preparation can help sellers avoid delays that could jeopardize a transaction.

Josh details several proactive steps sellers can take to streamline the sales process, beginning with due diligence. He notes that a basic title search is relatively inexpensive and can uncover issues such as old unreleased mortgages, tax liens or mechanics liens that could otherwise delay closing. He also stresses the importance of municipal searches, current surveys, and properly documented leases, explaining that estoppel certificates “confirm for a purchaser (and their lender, if applicable) that, among other things, rent and all other charges payable by the tenant under their lease are up to date and the amount of the security deposit." Josh adds that organizing repair estimates and property records in advance can help sellers negotiate more efficiently, concluding that “a few simple steps that can be taken immediately will help facilitate a future sale, saving time and hassle down the road.”

To read the full article, please visit the Westfair Business Journal website.