To get top dollar for your multifamily property follow these three important steps:

Step One - Prepare an apartment analysis form to give to potential buyers
This should include the rental income, operating expenses, reserve budget and projected debt service. Comparable sold properties and rental rates would also be valuable to include to support your selling price. This analysis will also keep the asking price from being lowered as you have given concrete evidence about the value of the building to potential buyers.

Step Two – Financing Options
Attractive financing options can also produce a higher selling price. This could involve offering seller financing, either a new first loan or carrying a second mortgage to make it easier for the buyer to purchase your building.

Obtaining attractive financing quotes from one to three commercial property lenders to present to the buyer can also help you sell your property for top dollar. Anything you can do to make it easier and quicker for the buyer to make a decision works in your favor. So do your homework.

Step Three – Advertise Where Buyers, Not Lookers, Look
Determine which websites, newspapers or periodicals are best for advertising in the area and will bring in a pool of potential buyers that can meet your price. Attracting someone interested in apartment building investing, and able to do it, is the main goal, rather than attracting a greater number of hopefuls who will not be able to afford apartment investing.

With an advertisement placed in the proper places, the property will reach the right buyers, keeping it from sitting too long on the market and driving the price down. The Internet has become a way for many people to look into the commercial real estate market, and it can be a good place to list a commercial real estate property for quick results if the proper websites are used.

Summary
Follow these steps to bring the right buyers to you. This will allow you to sell your apartment building at the price it’s worth on the market. Educate yourself before placing your property on the market. This will allow you to answer questions from those interested in apartment building investing and lead to a successful sale. For financing options to present to your potential buyers, feel free to contact me for assistance.