Most people think there is just one step to land negaotions and think that eht first step is to offer less thatn the selling price. Nothing could be further from the truth.
The commercial real estate market currently favors buyers, but that doesn’t automatically mean you’ll get a great deal. If you’re looking to acquire land for a self-storage development, here are three ways to negotiate your purchase and save money. Marc Goodin | Mar 31, 2021
Real estate negotiations have never been more advantageous for savvy buyers. For the first time in a long time, some sellers are accepting significant price reductions. The coronavirus pandemic has significantly reduced the number of new developments being made in sectors like hotels, retail plazas and offices, which means there are a lot fewer commercial land buyers in the market. Still, just because the market may be favorable, it doesn’t mean you’ll automatically get a great deal. If you’re looking to acquire land for a self-storage development, you need a strategic approach to the negotiation process. Here are three key steps and some specific tips to help ensure a smooth, profitable purchase:
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Here is just one case where due diligence before and immediately and after the offer found a change in the wetland boundary and a savings of $150,000. And with careful redesign we were able to hit our square footage design goal as well.