How to Use the Results of a Commercial Property Inspection to Negotiate a Better Deal
After a commercial property inspection, you will receive a report detailing any issues or potential maintenance needs in the property. This report can be used to negotiate a better deal with the seller or landlord. Here are a few ways to use the results of a commercial property inspection to negotiate a better deal:
1. Ask for Repairs: If the inspection reveals any major issues that need to be repaired, ask the seller or landlord to make the repairs before finalizing the deal. Alternatively, you could ask for a discount on the sale price equal to the cost of repairs.
2. Renegotiate the Price: If there are several small problems that need to be addressed, consider renegotiating the sale price to account for the cost of repairs. You could also negotiate a lower price if the property needs significant upgrades or renovations.
3. Request Credits: If the seller or landlord is unable or unwilling to make repairs before closing, ask for a credit or reduce the purchase price to compensate for the cost of repairs.
4. Extend the Due Diligence Period: If there are many issues with the property, ask for additional time to inspect the property to determine its feasibility for purchase.
It's important to have a clear understanding of the scope and severity of issues affecting the property before negotiating. A qualified commercial property inspector can provide you with a detailed report outlining the issues and recommendations. Use this information to make informed decisions and negotiate for the best possible outcome.