If you are considering starting your own business, and buying, (or leasing), commercial property, you need a commercial mortgage brokers. The terms and fees associated with commercial property loans can be confusing. Understand everything completely before you agree to anything.
The following reasons will help you see why you need a real estate broker for this type of financial agreement.
7 Sure reasons you need to Hire a commercial mortgage brokers
- A company like Clopton Capital has knowledge concerning the real estate market. When you deal with an experienced commercial real estate broker you get someone who knows how to get you the best deals. Their expertise is priceless in these situations.
- Commercial real estate brokers have inside knowledge pertaining to commercial loans, the fees associated with those loans, the down payments associated with those loans, and the loan terms. These brokers can understand the difference between a loan that is going to have a huge balloon payment and a loan that is simply going to have higher monthly payments. You want someone that understands all of the loan terms and is capable of explaining the terms to you so that you understand them completely.
- The real estate broker often has access to other commercial listings that might be better suited to your needs. Your bank or credit union can lend you the money to pay for your commercial property, but only a commercial real estate broker can help you find the perfect property. These brokers often know about property that has not yet been advertised, or they know the owners of the property and can get you a reduced price on the purchase.
- They know the past life of the property you are interested in. Most of the time the landlord or present owner is not going to divulge the bad information concerning the property you are looking at. The real estate broker has the ability to look up the past owners of the property, and look up past problems that the owners of the property may have faced. The property may not have a clear title, or it may flood when it rains, or there may have been property damage claims from wind, fire, or vandalism. The broker will find out everything you need to know about the property so you do not purchase something that is going to be problematic from the beginning.
- The real estate broker is capable of being objective about the loan. The property owner or the lender has a vested interest in you buying the property. The lender and property owner will make money when you buy, but the real estate broker only wants you to buy a property that is right for your needs. They will not try to push you into a decision or into signing a loan agreement.
- The real estate broker will know what lease term options are pertinent to your property agreement so they can help you get terms that work in your favor instead of in the favor of the property owner or lender. An attorney can help you get your contract written and signed, but they are less likely to be as knowledgeable about commercial loan agreements and terms. You want someone who can get you the lowest price, the best terms, and reduced fees on the property you are considering.
- The real estate brokers have access to a network of individuals who sell, lease, repair, or invest in commercial property. This network is an asset that helps the broker find the information they need to have concerning the property you are interested in.
A real estate broker is an ally that helps you get the best deal, the lowest prices, and the easiest terms on the commercial property you decide to buy. Consider these brokers as your friend and critical business associate.