Agent Selection

• Select an agent who primarily works with buyers. Research the background of the agent and be alert to a situation where an agent is representing both the buyer and seller because he may not have your best interest in mind. Get pre-approved for the loan. It is important to know what price you can afford to pay for the property. Consider structuring the loan for a low down payment and longer terms.
  
  

Inspection

• Make sure the property is thoroughly inspected by a professional and valued by a real estate appraiser. Review road accessibility and distances to important services, recommends Property Buyer's Research. Check on support services such as distance to the local fire department. Note building condition and age. Look at neighboring commercial buildings to make sure they are in good condition, since they affect property values.
  
  

Square Footage

• Consider purchasing a building larger than your initial requirement, allowing for expansion of your business at the same location. Until you need the space, you can rent it to a third party.
  
  

Negotiation

• Decide how much you are willing to pay for the property and offer a price lower than what you are willing to pay.
  
  

Closing

• Engage an attorney who specializes in commercial real estate. Find out what percentage of the attorney's time is spent strictly on commercial real estate transactions. Ask for and check references.
  
  

Mistakes to Avoid

• Make sure you are aware of conditions in the local market, recommends Mortgage Capital and Investing. The facility you are considering may be located in a market where it is difficult to recruit a workforce that has the skills you require. Commercial property values could be dropping substantially, making it difficult to recoup your investment if you decide to sell the property at a future date. Accurately estimate the costs in managing the property, but do not borrow more than necessary to fund the transaction.