5 Real Estate Terms You Should Know About


Commercial Buildings for SaleReal estate and commercial business is one of the largest businesses in the world and whether a person owns his own office or a rented, the property cost is the largest expense. While searching out commercial buildings for sale in Google we can find out thousands of companies offering their services but one thing is common in all that they are all very expensive. That’s why it’s very important to figure the full ramifications before taking over a property and signing a lease agreement. It’s very important to discuss with a real estate broker or a consultant before signing such agreements. Plus there are some terms in the field of real estate which are quite important and one need to understand these terms before making a deal:

Appraisal: It’s a written paper by the state licensed professional and it includes the analysis of the property’s value and it’s a must for every commercial property sale.

Broker: Broker is an agent who brings two parties together, i.e. buyer and seller. They work on commission. Make sure that the broker is licensed by the state.

Build-to-suit: It’s a method for leasing of property in which the land lord makes improvements to the property and this cost is factored into the lease terms.

Concessions: The benefits or discounts which are given by the seller to the buyer so that they can smoothly close the deal. Concessions types include remodeling of property, modifications, upgrades and reduced rent for the initial term.

Lease: It’s an agreement by the seller or the owner I which he grants the ownership to the buyer for a predetermined amount of money.

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