We are the commercial mortgage broker Toronto team that’s made up of ex bank managers. Our experts have both the expertise and knowledge to put together complex deals on different properties that are as different from each other as schools and farms.
Location Location
Here’s a few of the tips that we’ve learned over the years about buying commercial properties.
- If you’re retail business, location is one of your biggest concerns. There are some other factors you’ll need to look at like parking and accessibility for both employees and clients. Don’t forget to add in receiving/ shipping requirements and factor in any growth plans you have.
- Putting together a budget actually gives you negotiating power. You’ll be able to approach any vendor from a position of authority because you be clear on what you can and cannot afford.
- Finding a good real estate agent who specializes in commercial properties is important. Of course, your team also needs an excellent commercial mortgage broker in Toronto and a good lawyer.
Negotiating a lower price is always important. Here’s a few things you can look at that can make that happen.
- If your business doesn’t need to be located centrally, you can find deals in remote locations where a bit of traveling might be involved.
- You might look at an affordable location that has more square footage than your business needs presently. There’s no need to cross that off your list. Think about possible tenets that might want to lease part of that extra space. Keep in mind you want to have any lease signed before a purchase offer is made.
We always recommend that you investigate any potential purchase thoroughly. That means you’ll need to find out about allowable uses so you can be positive your business can operate in the space.
