If you’re excited about the prospect of jumping into the Denver commercial real estate market
, it can be important to be aware of the ways in which you may end up getting scammed or be on the wrong end of a deal. Although commercial real estate can certainly be a terrific option to consider for your investment portfolio, there are definitely certain ways you can end up regretting a particular deal, especially if it ends up costing you dearly in the pocket book. With that in mind, here are some of the warning signs you should be aware of before sealing any deal from your trusted Denver commercial real estate firm.
A Seller Doesn’t Want to Show You The Whole Property
If this situation is playing out in the course of looking at potential properties, you should certainly be thinking about walking out the door. If a seller isn’t keen to show you everything, there is almost certainly a part or aspect of the building which may be a turnoff to you. A seller should want to show you every aspect of their property, as it should be in the best position possible to be ready to sell. If this scenario is occurring and you are still committed to considering the property, ask to see the entirety of the building or walk out the door.
The Property Has Been on the Market for an Extremely Long Time
If a property looks too good to be true, often this is the case. The chances of there being a hidden gem awaiting you and your team of investors is highly unlikely, especially if a property has been on the market for longer than a year or more. In down markets where there is less investment activity, this may not be the biggest red flag in the book.
But in 2019, the real estate market is still shaping up to be in a healthy state, and a property which has been on the market for much longer than average is a sign that something might be wrong with it. This is not always the case, as some properties may have certain aspects which put the potential buyers into a much more narrow field, perhaps due to price or other aspects, but it can definitely be something to be cautious of. A building which is in a prime location and looks solid but cannot sell is certainly something to tread lightly around.
If you’re seeking a qualified and knowledgeable real estate firm in the Denver area to assist you through the property investment and development process, Elevation Group is your preferred choice in the mile high city. We offer expert advice and help from start to finish in order to ensure your commercial or residential project is a smooth success, providing you with the needed peace of mind to make your dreams a reality. Contact us today to begin the process of building your dream property development.