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Archive for April, 2010

Commercial Real Estate – Lease Or Buy?

Thursday, April 29th, 2010

If you are shopping for bargain priced property to purchase, be sure to check into the condition of the property and to make sure there are no legal obligations connected. If a deal seems too good to be true, you need to find out the reason behind the offer. It is a good idea to consult with an experienced attorney that specializes in this area so you will have someone to guide you when questions arise regarding your purchase.

A bargain isn’t a bargain if it doesn’t fit your present and ongoing needs. If you do not foresee owning the property for at least five years you may want to see if you can set up a lease agreement instead of purchasing. My best advice is to find a real estate agent who is experienced in dealing with Jacksonville commercial real estate. Jacksonville commercial real estate agents will have knowledge of office space, retail locations and investment properties that are on the market in the area.

This can be a great investment opportunity for the future. It is possible to find premium properties at rock bottom prices due to the recession. If you have the cash to invest, the property should appreciate in value as the economy recovers. Although it can be risky, the profit potential is great if you purchase or lease premium properties in Jacksonville. This is another situation where a good real estate attorney can be your best friend.

Buying foreclosed properties can be risky but it is worth taking a look at. Do your research before buying any foreclosed property since there may be tax obligations that are connected to the property. This is especially true of Jacksonville commercial real estate that is in foreclosure. It may still be a good investment but as with any purchase you should know what the cost to you will be. You should also have a professional inspector look at the property to see what repairs if any need to be made.

The condition is a very important consideration. Major repairs can be costly so you want to make sure the structure is sound. The wiring and plumbing should be checked by a professional to make sure that it is in compliance with the codes. It will cost a little to hire a professional to inspect the structure but it is something you shouldn’t neglect doing. The cost of the inspection is little compared to the price of major repairs. It can also prevent a lot of headaches in the future.

Before purchasing or leasing, you should visit the area several times at different times of the day. This will help give you an idea if the area will be right for your needs. Planning your purchase can help you find Jacksonville commercial real estate that will appreciate in the future.

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