How can you effectively dispose of real estate properties your organization no longer needs?

I believe it’s also very important to look at the long term benefits or ramifications of disposing of the property. What is your business 5-10 year plan? Will selling or leasing help or hinder this goal?

In my perspective, embarking on the sale or lease of properties necessitates a thoughtful examination of objectives and disposal criteria. It's imperative to understand the motives behind divesting these assets, whether for financial gain, cost savings, or other strategic considerations. Additionally, assessing the legal, financial, and environmental implications of the disposal is crucial for informed decision-making. Delving into the broader impact on the organization, including operations, image, and reputation, provides a holistic perspective. By meticulously addressing these questions, property owners can define clear goals and priorities, laying a solid foundation for a well-informed and strategic disposal process.

One thing I find helpful to those considering a sale is to also complete home/building inspections. This will give a true picture of what can also affect your pricing at time of sale. Will it need repairs or updates? These capital items need to be accounted for.

One sure shot way to make a property extremely attractive is to invest in a Digital Twin that brings transparency and confidence to prospective buyers.

The auction method of marketing is not only a viable approach to liquidating properties, but also offers several advantages. One of the key advantages is that, unless marketed as "absolute," the seller retains control over the final price. Contrary to a common misconception, the concept that the seller must simply "accept" the price is patently false. In an auction, the seller has the power to set a reserve price or establish specific bidding increments, allowing them to influence the outcome and ensure a satisfactory sale. This level of control empowers the seller and provides them with the flexibility to achieve the best possible outcome for their property.

Yes as a seller you have many options to “dispose” of your asset. It is very important to keep in mind that REALTORS®️ are experts in their field and local areas. As a seller you can understand or overprice your asset. There are also required disclosures by sellers. If a buyer discovers a defect that wasn't disclosed by the seller, they may have legal action for nondisclosures or negligent misrepresentation. The buyer can sue, claiming the home was misrepresented.

REALTORS®️ are experts in negotiating terms of a sale and purchase. This is why disclosure is extremely important when listing, and prior to receiving a purchase offer. Up front disclosure can help minimize negotiations that may arise during a sale.

Considering the risks of negotiating and contracting with unknown parties, or parties you have never worked with, it is important to be involved in the process of the legal professional in this field. To ensure the documentation is okay, the thoughts are expressed clearly, and the rights, obligations, payment methods, etc are mentioned in line with both the agreed terms and the appropriate legislation. It should be considered the risks of the claims from the buyer's side, or additional requirements from the tenant's side. Always check your counter-agent, even though it is a real estate or auction company.

It's good to be aware of the statute of limitations for a real estate purchase sale, in some legislations it might be 2 years, in some 3 years, and so on. So the monitoring in the case of a sale will not finish as soon as it is sold. In the case of the lease - it is a constant monitoring (and mostly even an effective business model).

Navigating a sale can be difficult and stressful. Allow your Real Estate professional to be your go to expert. Their extensive industry knowledge could save you anywhere from thousands to hundreds of thousands of dollars, while also reducing confusion and anxiety throughout the process.