How a commercial sale works, step by step

1. First conversation

Your goals, your timing and why you’re thinking of selling. Nothing is shared without your say-so.

2. Research and pricing

Leases, income, expenses, the building and comparable sales. I put together an opinion of value and a plan.

3. Listing agreement

We agree in writing on the price, the marketing plan, how long, and how I’m paid, through Coldwell Banker Prestige Realty.

4. Preparing the package

Financials, lease summaries, photos, plans and the documents a buyer will want. Getting these ready early saves time later.

5. Marketing

The listing services, direct outreach to qualified buyers and confidentiality agreements where needed.

6. Offers

I go through each offer with you: price, deposit, conditions, financing, timing and the buyer’s ability to close.

7. Accepted offer

Once accepted, the deal is conditional until the buyer removes their conditions.

8. Due diligence

The buyer inspects the building, reviews leases and financials, and arranges financing. Issues come up. Most are solved with a price adjustment, a credit or a repair.

9. Subject removal

The buyer removes conditions, and the deal is firm.

10. Completion

The lawyers transfer the money and the title. Tenants are told who their new landlord is.

After the sale

I’m still around for questions, tenants and your next move.

Questions people ask

How long does a commercial sale take?

Often several months from listing to completion, depending on the property and the market.

What documents will buyers ask for?

Leases, rent roll, operating statements, property tax notices, building reports and, for strata units, the strata documents.