Sell your Commercial Property Fast
We Buy Commercial Properties Fast | JetOffer
JetOffer buys Shopping Centers, Retail Buildings, Apartment Buildings, Land, Medical Buildings, Mix used Distress and unmanaged Properties
in ANY CONDITION
Commercial
Selling To JetOffer | Traditional House Sale | |
|---|---|---|
Fastest | Longest | |
| Property sale price (example) | $5,000,000 | $5,000,000 |
| Average days to find a buyer | 0 Days | 120 Days |
| Average days to close | 36 Days | 120 Days |
| Average total days to close | Choose from 30-90 Days | 240 Days |
| Average days to prep the property | 0 Days | 30 Days |
| Average number of qualified showings | 0 Showings | 6 Showings |
| Agent commission 4% | $200,000 | |
| Jet Offer fees 0% | $0 | |
| Seller concession closing costs 1% | $50,000 | $50,000 |
| Seller's holding costs and maintanance* | $50,000 | $250,000 |
| Loan and Appraisal Contingencies | No | Yes |
| Repairs and assesments | TBD | TBD |
| Vacancy Rate. We buy AS-IS | TBD | TBD |
| Cash To Seller | $4,900,000 | $4,500,000 |
IMPORTANT NOTES:
- JetOffer fee = 0%. Some competitors charge a fee of 5%-6%
- Transparency- All transactions are via Escrow.
- All prices and estimates are for illustration only. Each offer and/or situation is unique
- Offer eligibility and price will vary. We are not obligated to offer according to any other buyer’s offer or 3rd party estimate
- Standard value estimates by online and offline sources, might be way off the actual value plus they do not include increased or decreased value variables like a location, repairs, market conditions, vacancies etc.
- Closing costs might vary by area and property type. Usually 1% -2%
- In some cases like with distressed properties, there are investment risks, long-term cost of money and uncertainties
- Estimated net proceeds shown do not yet account for customer’s mortgage payoff, taxes, liens, etc.
- All offers are subject to verifications and inspections
- JetOffer with its affiliates is an investment company, not Real Estate agency
Why closing commercial property takes more time?
Usually, the average escrow period for Commercial properties is longer than residential.
- It depends on the property types.
- Negotiation process which in many cases starts with LOI, Letter of intent.
- It is not uncommon to see 60-120 day “due diligence period”, in which the purchasing entity explore the purchase from many directions.
- The appraisal which usually takes 1-3 weeks.
- Financing complexity which usually takes 45-60 days after the due diligence period.
- Environmental issues and reports that the bank requires before they start with the financing process.
- Preparation of financial projections.
- Verification of leases and licenses.
- Many transactions and done by groups of investors which makes the bank’s verification process longer.
- Legal issues.
- Unexpected requests from the bank that might take longer and in many cases the buyer needs an extension.
JetOffer Can Save You Months
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