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Finding opportunity in a changing commercial real estate market

The last several years have brought change and uncertainty into the real estate market, which is something we've regularly discussed on this blog. However, the overall economy is on the path toward recovery, and real estate has followed along. As commercial property prices begin to buoy and interest rates remain low, many may be wondering what's next.

With stab prices stabilize and begin to rise, property sellers and buyers might be motivated to move forward with a transaction. As such, this might be a time when commercial property sales begin to pick up in the Charleston area. Interested parties looking to start and close a transaction may wish to take necessary precautions to ensure that the process is successful at all stages.

Although there might be some changes in the pipeline, interest rates are still low. This means that financing can be found at a favorable cost. Not only that, but lenders are still willing to offer loans to those who qualify. Still, it's important for buyers to make sure the terms of financing are favorable and will come through as needed.

Beyond financing, property selection and closing are very important aspects for anyone looking to buy commercial property. Some observers point out that buyers don't have to go for prime -- "Class A" -- property. Other properties may be perfectly suitable and could end up being a more sound investment.

Furthermore, it's important that the terms of closing are beneficial for both parties. If your interests aren't adequately represented during the closing process, there's a chance that difficulties could arise. Taking steps to complete a successful transaction in the immediate term can allow both buyers and sellers to feel satisfied down the road.

Source: Crain's, "How to get the most bang for your commercial real estate buck now," H. Lee Murphy, June 24, 2013

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