CHAPTER 15 Purchasers’ Most Common Mistakes
There are countless due diligence aspects to complete before, during, and after your property search. The process naturally presents a set of risks for every company or investor. There are too many variables to keep track of without the help of a broker. You and your broker want to do your best to minimize those risks and set yourself up for success. That means avoiding mistakes that will cost you or set your company back. Here are the purchasers’ most common mistakes.
NOT THINKING 15 TO 20 YEARS D O 20 YEARS DOWN THE R WN THE ROAD
How long an investment do you see this as? Do you see your company still using this building in 20 years? These are the types of questions to ask yourself and know the answers to. Look around the surrounding area. How do you think it will look in 15 years? The long-term aspect of the surrounding area is important. If you ever want to move out of the property and sell it, that could be a determining factor. Put yourself in the shoes of an investor when considering the potential of the area. Many business owners don’t think this far in advance. Ask yourself, if you were a buyer would this be an appealing property in 20 years? Try to think if you would buy it then. Use this to help with your purchase.
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