TiP #12: The Premises
(The Property, The Position*)
"Three most important things in real estate: location, location, location"
One of the most important values for many businesses is the location, where the store, restaurant, hotel, warehouse, offices etc. is located (location, location, location"(*)) Whether it is rented or owned, one needs to know the value in the market, going sales prices and rent and rental conditions. Besides the direct costs associated with the premises, one need to check the ownership documentation, if there are any mortgages, guarantees, debts, taxes, licenses, contractual commitments or obligations, community regulations (costs); it all has to be checked, verified and discussed with the other party.
(*) Nowadays the position and visibility of websites and internet presence (social media) is as important as the physical presence of the premises used to be.