Nailing the Best Deal for Your Facility

A broker will act as the go-between and handle negotiations in a non-emotional focus to keep the process moving forward. He will:

• Maintain confidentiality.
• Coordinate the key participants.
• Interface with professionals including attorneys, accountants, lenders, appraisers, etc.
• Keep the players focused.
• Maintain momentum.
• Assist with deal structure/buyer financing.
• Calm buyer and/or seller frustration.
• Find the pool of strong credit with national and local qualified buyers.
• Enhance the value by creating a bidding process between a local and national buyer.
• Help locate a lender, title company and environmental company, if requested.

Finally, the broker will put together the closing package, collecting a purchase offer and closing documents to meet the real estate laws of the state. This is critical to a successful transaction. Included in this package is the letter of intent to purchase, the purchase contract, due diligence procedure, deal structure, financing needs and closing information. He must also file the paperwork with the correct state agencies. It’s one thing to find a qualified buyer, but the right broker is your coordinator to get the sale closed. In summary, make sure you find someone with:

• National and local self-storage advertising exposure and expertise for your property.
• Years of experience working with national buyers and sellers in self-storage.
• Honesty and integrity.
• Willingness to go that extra mile for you.

A professional broker should help make the sale and closing process a good and profitable experience for you, the seller. Find the right one, and you’re one step closer to nailing a great deal on the sale of your self-storage facility. 

Harold Kolbe is the Georgia affiliate of Self Storage Brokers of America, and is founder and president of Southeastern Business Intermediaries, which provides client consulting services on business valuation, financing, and disposition and acquisition of businesses and real estate. With more than 20 years experience in management, finance and business ownership, he offers valuable insight into business valuation and real estate brokerage. For more information, call 800.556.9892; visit www.selfstoragebrokersofamerica.com.