Selling Property: The Complete Guide for Sellers

The big decision

Selling a commercial property is not something you do every day. Perhaps it is your first time, or perhaps you have done it before. Regardless, it is a process with many steps, each with its own pitfalls and opportunities.

In this guide, I will take you from the initial decision through to the transfer of keys at the civil-law notary. Consider it your roadmap – not every route is identical, but the broad outlines are universal.

Phase one: the decision

Before you even begin selling, the decision must be clear. Why are you selling? Is it because you need the money, because the building no longer fits your business, because you think the market is at its peak? Or are there other reasons?

Understand your motivation, as it partly determines your strategy. If you need money, speed is important. If you are looking for the maximum price, you take more time. If you want to sell to your tenant, the approach is different again.

And consider: are there alternatives? Can you refinance instead of selling? Can you rent out part of the building? Selling is irreversible; be certain it is the right choice.

Phase two: the preparation

Preparation is perhaps the most important phase, even if it feels less exciting than the actual sale.

Start by gathering all documentation. This sounds administrative, but it is crucial. Your deed of ownership, the Land Registry (kadaster) data, all architectural drawings and permits, the energy label, the maintenance history. If the property is leased: the complete lease agreements with all appendices.

Potential buyers – and especially their advisors – will ask for all of this. If you do not have it ready, you project unprofessionalism and delay the process.

Next, have a valuation performed. Preferably two rather than one. A realistic valuation is your foundation for the entire sale. Expectations that are too high lead to a slow sale and eventually price reductions. Expectations that are too low mean money left on the table.

Phase three: the sales strategy

Now it gets serious. How are you going to sell?

Most sellers engage an estate agent, and there are good reasons for that. An experienced agent knows the market, has a network of potential buyers, knows how to negotiate, and can guide you through the legal process. The commission – usually 1 to 2 per cent of the sale price – often pays for itself in a better deal.

When selecting an agent, ask the right questions. How many comparable properties have they sold? What is the average time to sell? What sales strategy does the agent propose? Ask for references, and actually call them.

Together with your agent, you determine the presentation. Professional photography, an attractive brochure, a strong online presence. And you determine the strategy: open sale with maximum publicity, or a more discrete approach via a targeted network?

Phase four: the sale

Now the real work begins. The marketing is rolled out, viewings are scheduled, interest is gauged.

A tip for viewings: be well-prepared. Ensure all information is ready. Answer questions honestly – latent defects always come to light, and it is better to mention them yourself than for the buyer to discover them. Follow up with the agent after every viewing: what was the reaction, is there interest, are there questions?

When an offer comes in, the negotiation begins. This is where a good agent proves their value. The first offer is rarely the last; there is almost always room for improvement. Assess not only the price but also the conditions: financing contingencies, completion date, resolutive conditions.

Phase five: the completion

Agreement reached? Then the final phase begins.

The purchase agreement is drawn up. This is a legal document that records all agreements: the price, the delivery date, the resolutive conditions, the warranties you provide as a seller. Always have this checked by a specialist. Errors in the purchase agreement can cost you dearly later on.

The buyer then carries out their due diligence. They examine all documents, possibly have a structural inspection performed, and check legal matters. Be cooperative – provide all requested information quickly and fully.

And then, finally, there is the delivery at the notary. The deeds are signed, the keys transferred, the purchase price received. It is a moment that always feels somewhat surreal after all the months of preparation.

After the sale

Do not forget the aftercare. Inform any tenants about the new owner. Cancel or transfer insurances. Deregister with utility companies. Archive all documentation – you may still need it for your tax return.

And take a moment to look back. What went well, what could have been better? If you ever sell a property again, you will have gained a wealth of experience.

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