Time is a critical factor in today's marketplace when planning to sell commercial real estate

In today's marketplace, time is more critical than ever before. The economic environment has pushed many property owners to the breaking point and declining values have closed many doors that were previously open to them. When you obtain a listing, not only do you need to evaluate the highest and best use, the optimal amount to list it for and develop a marketing plan, you need to address the financial health of the seller in order to determine the amount of days you can afford to remain on the market and intelligently decide whether you can list at fair market value or have to dip a bit below to assure the property will fly off the market when the seller "needs to be out." Knowledge of the property is essential in being able to effectuate a closing in a timely fashion. How many of us have been almost to the table, only to find out there is a title problem, an environmental issue or a building department problem that has pushed the closing date off into the ozone layer? Do the work ahead of time. Get copies from the owner of any surveys they may have and a copy of their current deed and title policy. While marketing the property, get a search done with a responsive title company. Get a binder prepared showing all easements, covenants and restrictions on the property. Request that the title company also does a search for any right of ways that may benefit your property. Work with them to clear up any possible title problems ahead of time to avoid any unforeseen closing hold-ups. Visit the building department and review the file. Speak to the building inspector and/or his assistant to make sure there are no current violations on the property. If there are any open building permits or violations, work with the building department and the owner to get these things resolved as quickly as possible. Encourage your client to have a phase I study done at the time of listing. Clear up any items that would need to be addressed prior to closing. Last but not least, keep yourself in the deal. Position yourself as the one people will turn to for solutions if there is a problem. If someone is not a team player, don't get involved with them. Whether it is the lender, title company, seller's attorney, buyer's attorney or engineer, we all need to work together to effectuate the deal in the most expeditious manner. Working together we can "get it done" for the highest and best interest of all parties involved. Nan Gill is the president of Gill Abstract, Goshen, N.Y. and New York, N.Y.