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    4 Replies Latest reply on Mar 31, 2011 9:09 AM by Bridge

    Purchasing Real Estate

    anh Wayfarer

      I am planning to buy this closed down BKing building (1989), they are asking $350,000.  What is the approriate offer that I should make? Thanks a lot for your advice

        • Re: Purchasing Real Estate
          LUCKIEST Guide

          Who r u?? Where is the building??

          As they say in Real Estate, Have you checked the comparable's??

            • Re: Purchasing Real Estate
              anh Wayfarer

              Since this is a commercial stand alone building, it would be hard to have comparables, it is a closed down burger king.  we have 2 fast-casual dining restaurant that are currently leasing, this is the first purchase.  Thank for your response

                • Purchasing Real Estate
                  Barky Dog Tracker

                  Hi anh,


                  Have you talked with the realtor representing the property?  Often times you can ask them flat out, "What is the rock-bottom price for this property?".  You can also bid below their "rock bottom". 


                  You might also consider hiring a Licensed Commercial Real Estate Appraiser.  Since they'll be working on your behalf, you can feel more comfortable with the estimate.  You can click here for a list of appraisers in your city.  Or, you can try a Google search with the name of your city followed by "Commercial Real Estate Appraiser".  For example "Denver Commercial Real Estate Appraiser".


                  Good luck,



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              • Re: Purchasing Real Estate
                Bridge Navigator

                Comparable sales are available for commercial as well as residential properties.  You could also do a replacement cost analysis.  Just as important as a good appraisal is a good property inspection - especially if it has ben shut down.


                You will need the roof, ac/heating, plumbing, and electrical thoroughly examined.


                Best of luck.