When it comes to buying commercial real estate, there are several different types of buyers that can be found. Knowing whom you’re dealing with and what to expect from them is essential for a successful transaction. Here are some common types of commercial real estate buyers in Dothan, AL, and around the area:
Investors
Investors are often looking for properties that show long-term stability or provide a good return on investment (ROI). They may also buy properties to add them to their portfolio or resell them after renovations or improvements. The purchase price they offer may not necessarily be the highest, but they are usually willing to close quickly since they generally do not require additional financing.
Developers
Developers usually acquire larger plots of land with the intention of building something new, residential or commercial buildings, shopping malls, etc. These investors have deep pockets and will typically have a large team helping inspect, finance, and purchase the piece of property desired. It is wise to take time with these buyers as their expectations and timelines tend to be more demanding.
End User
Another type of commercial real estate buyers in Dothan, AL, would be an end user. This type of buyer can include small businesses that need office space, entrepreneurs wanting warehouses for storage purposes, etc.
Since these individuals/organizations need premises now rather than later, it’s important to present feasible solutions within their budgets; otherwise, potential customers could go elsewhere.
Flippers
Flippers look for undervalued properties (think fixer-uppers) that they can renovate at low costs and eventually sell at higher prices down the line.
This type of buyer requires fewer paperwork hassles since they don’t need financing; however, they will want assurance that a property isn’t overpriced when compared with similar offerings in the area, so they will probably work with a firm, such as NAI Talcor, to ensure a smooth transaction.
