Frequently Asked Questions
Maybe you have a few questions. That’s okay; most people do. Here is a quick collection of some of the questions people ask us, along with our answers. If you still have a question, don’t hesitate to contact us anytime. We would be happy to answer it for you.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. Here at Commercial Property Buyers Canada our objective is to buy commercial properties; that is what we focus on all day everyday, and we think we’re quite good at it. We buy commercial properties all over Canada that meet our purchasing criteria. After purchasing your commercial property, we will typically repair it, lease it out to tenants long term or resell it to another buyer later.
Q: How are you different from a real estate agent?
A: Real estate agents list properties and hope that someone will buy them; they usually overpromise and underdeliver. The agent shows the properties to prospective buyers, disturbs your tenants, and then takes a percentage of the sale price if they find a buyer. If they don’t you’ve wasted months waiting around, all to be disappointed. In many cases, the agent’s commission is as high as 5 or 6% of the sale price of your commercial property which can quickly add up to hundreds of thousands and eventually millions of dollars that you would otherwise be paying in commissions to an agent.
Agents provide an alternative for those who can wait 6+ months to sell their commercial property and don’t mind giving up a big chunk of that through the form of commissions. But that’s where we’re different. We’re not agents, we’re commercial property buyers and we want to make a deal with you. Our company buys the commercial property directly from you. Since we pay with all cash and purchase the commercial property from you, we can make a decision to buy your commercial property way faster than a typical buyer and you get to avoid the typical dog and pony show.
Looking for this to be broken down further? Here’s a comparison chart to give an overview:
| Selling w/ A Canadian Commercial Agent | SOLD To Commercial Property Buyers Canada | |
|---|---|---|
| Commissions / Fees: | Up to 6%, paid by you, the seller | None |
| Who Pays Closing Costs? | 2% on average is paid by you, the seller | We pay all costs. |
| Inspection & Financing Contingency*: | Yes, sales can fall through. | None needed |
| Appraisal Needed: | Yes, the sale is often subject to appraisal. | No, we make cash offers. |
| Average Days Until Sold: | +/- 181 Days | We provide immediate cash offers. |
| Number of Showings: | It Depends | 1 (Just Us) |
| Closing Date: | 30-60+/- days after accepting the buyer’s offer | The date of YOUR CHOICE. |
| Who Pays For Repairs? | Negotiated during the inspection period | We pay for all repairs. |
Q: Do you pay fair prices for properties?
A: Many of the commercial properties we purchase are below market value. We do this so we can resell it at a profit to another homeowner. For those who are looking for top dollar on the retail market, we typically suggest them to list with a traditional commercial agent to do so as we are looking to get a fair discount on a property. That being said, from our experience, the sellers we work with aren’t typically looking to get as much money as possible, rather, they value the speed, convenience, and privacy that our service provides them. If that’s what you’re looking for and you see the value in getting your house sold fast, let’s see if we can come to a win-win price for both parties. Our no-obligation pricing commitment means that you don’t have to move forward with the offer we give… but it’s good to know what we’re offering!
Q: How do you determine the price to offer on my house?
A: Great question, and we’re an open book. For us it will largely depend on our options with the property and the risk involved to achieve those options. For example, if there is an option to perform a severance on the property, we will typically be able to pay more as there is an opportunity to unlock equity. On the other hand, if the property needs a ton of work and the market is not doing so well, we will likely be looking for a deeper discount. That being said, our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and the value of comparable commercial properties sold in the area recently. Taking the many pieces of information into consideration, we come up with a fair price that works for us and works for you, too.
Q: Are there any fees or commissions to work with you?
A: This is what makes us stand out from the traditional method of selling your commercial property: there are NO fees or commissions when you sell your commercial property directly to us compared to listing fees, where up to 6% comes out of your pocket. We’ll make you an offer and, if it’s a fit, then we’ll buy your commercial property with no hassles and no fees; easy and done! We make our money after we pay for repairs on the commercial property, hold it for longer term, and sell it for a profit. We’re taking the risks here on whether we can sell it for a profit or not in the future. Once we buy the commercial property from you, the responsibility is ours and you walk away without the burden of the property, it’s repairs, and its payments, as well as cash in your hand.
Q: Is there any obligation when I submit my information?
A: There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us. We’ll let you decide what’s right for you.
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