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ARTICLE · 01 MAY 2014

Timing Considerations When Buying Or Building Commercial Property In Calgary

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When deciding between buying an existing property or building a new space for your business, the first questions you need to ask are about timing.

CanadaReal Estate and Construction
Christopher C. Pardell
Christopher C. Pardell
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When deciding between buying an existing property or building a new space for your business, the first questions you need to ask are about timing. While anticipating the timeframes may sound like common sense, even seasoned buyers and builders can get caught off guard by the process and timelines involved in purchasing and developing property in a new location. Here are a few questions to consider so your next project stays on time and on budget.

How Long are You Prepared to Research a Building Before Buying?

If you have your eye on an existing building, consider the amount of time you will want to "kick the tires" of your new space and the extent of the due diligence you will want to conduct before entering into any negotiations or agreements with the seller. The more you know about a property, the more comfortable you will be with negotiating the deal. Be sure to give yourself (and your lawyer) ample time to complete any searches, inspections or other inquiries

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