How are commercial real estate brokerage fees charged in Durham?
Fees vary by transaction and are set in the brokerage agreement; sales commissions, leasing fees, tenant-representation fees, and property-management fees may be structured differently. Confirm the rate, payment timing, and any termination or administrative charges before signing.
What due diligence should I do before buying a commercial property?
Review title, survey, leases, operating statements, environmental conditions, building systems, zoning, permits, and development restrictions. Confirm that the intended use is allowed by the applicable Durham or Durham County jurisdiction.
How long does a commercial sale or lease typically take?
There is no fixed timeline: marketing, tenant or buyer negotiations, inspections, financing, environmental review, zoning questions, and closing-document preparation can each affect the schedule. Ask for milestone dates and conditions that could delay closing or occupancy.
What is the difference between tenant representation and landlord representation?
Tenant representation helps a business compare spaces, negotiate lease terms, and evaluate occupancy costs. Landlord representation markets the property, screens prospects, and negotiates lease terms for the owner; the brokerage agreement should identify whom the broker represents.