For commercial property owners and real estate agents alike, this blog will be helpful if you are trying to sell your commercial property in Mumbai. The following four points will not only give your property a lot more client inspections, but also make selling your property much easier and more successful than it would be otherwise.
1. Know your property’s worth
This is crucial. In a market where real estate is inflated and properties are overpriced (largely due to India’s deep-rooted negotiation culture), having awareness about your own property and pricing it right is very important to successfully sell your commercial property. If you price it too high, it won’t attract too many buyers and if you price it too low, you would miss out on some profits. Which begs the question:
How do you know your properties worth?
There are two ways:
a. Either hire a professional valuer (either private or government professional) or,
b. Compare it with other properties who have similar characteristics; for instance: those commercial properties with similar carpet areas, similar building amenities, similar quality buildings, floor level, access to transport (especially trains in Mumbai) and similar neighbourhoods are good criteria to compare & value accordingly. This will give you a good enough understanding of what your property should be priced at.
2. Beautify your property
This makes all the difference. A recently painted, well-maintained property will fetch you more than the EXACT same property with crusty paint shaven walls with broken tiles and substandard plumbing work. A small investment and taking care of your property on a regular basis will surely yield a very impressive ROI – it’s worth it, especially since so many properties in Mumbai for sale are not taken care of! Yours will stand out!
3. Market your property well
Having a beautiful property is no good if it’s not marketed with the intent to get the right people to visit. Where are these people? They are online. Anyone who wants to buy commercial real estate will first search online and if your property is not online, there’s a whole lot of opportunities to sell that you are missing out on. However, with the rise in property portals being easily accessible to the masses, it is very common for property owners to get a lot of inquiries from uncommitted clients. We suggest you check out property portals which provide verification and free property listings like Jagaha.com which is focused on commercial properties and most importantly filter down the calls and only provide owners with legitimate prospective buyers and not time wasters.
4. Have all your paperwork ready
You have priced your property well, beautified it, and marketed it to the right people and now there’s enough people interested in purchasing it on your approval, but you don’t have all the paperwork ready. It’s a complete waste of time for not only you but also the clients who could possibly have other options available. And if you do not want to miss out on a good offer, it is crucial to have all your paperwork ready to make sure the sale process is as smooth as possible.
We can almost guarantee that paying attention to these four points will be exceptionally helpful in selling your property in Mumbai and across all of India as well.
Also while you’ve made it this far, if you want to know if your property qualifies for a restaurant property or which licenses are required to start a restaurant, this blog will sort out all your doubts. If you have any queries, leave them in the comments or call at 902900670