Buying residential real estate,
Buying residential real estate can be an exhilarating experience and as evidenced on popular media such as HGTV is a much anticipated and important step in life. Buying real estate can be a lot of fun, but can easily become stressful. Here is a list of tips on how to make your buying of residential real estate experience, both enjoyable and successful.
Residential buyers have a lot of built in protections via state and federal protection laws and requirements. Investors and Businesses however have to live by the rule of Caveat Emptor (buyer beware). If it isn't readily apparent and obvious, it should be noted that not all realtors know what they are doing when it comes to investment and commercial acquisitions and dispositions. Nor do all commercial investment agents know everything about all types of commercial real estate. For example, industrial buyers have very unique needs with load bearing weight measurements on floors, ceiling heights, loading docks, electrical capabilities, etc., but not be as picky on site selection as a retail or professional office client. Retail may need specific demographics surrounding their location, with traffic counts and positive or negative locational externalities playing a big role in site selection. There are many types of lease structures as well, so understanding the difference between a NNN vs. a gross or percentage lease and the specific modifications to each is critical.
Here are 5 suggestions when looking for a commercial or investment agent: