Improving Your Resale Value: TAR Commercial Contract
What does it mean to make improvements on a commercial property? It generally refers to adding certain kinds of utilities and services, such as electricity, telephone, water, sewer, etc. which ultimately may increase your property’s resale value. If you are looking to buy or sell a commercial property in Texas, these kinds of improvements may be an important tool for leveraging a better sales price, and should be listed on your Texas Association of Realtors TAR Commercial Contract.
Some ways in which property values can be increased include expanding or upgrading existing buildings or constructing new ones, changing the use of the property or making new services available, or lowering existing expenses. Two ways to do that are either through renegotiating the lease, or by lowering your property taxes. Another increasingly popular way of adding value to your property is by going green with energy-efficient appliances or new green technologies and energy conserving design. These kinds of facility improvements may not only bring your costs down, but have long-term environmental benefits.
Just remember that although improving commercial property is generally a sound strategy, things might not always turn out as planned! While a property that already has improvements will usually contribute a certain amount of value to the site, improvements can in some cases lower property value, particularly if the site’s potential buyers wish to use the property for another use. Remember when we used to have solar panels on the White House?
However you go about improving or adding value to your property, in Texas the form that is used for the sale of improved commercial properties is the Texas Association of Realtors Commercial Contract for Improved property or TAR-1801. TAR forms are the official forms produced by the Texas Association of Realtors. The TAR Commercial Contract Form is among the many TAR contract forms for Texas real estate transactions available from PDFfiller.
Get started filling a Texas commercial property contract with PDFfiller today and get creative in terms of thinking about not what your commercial property can do for you, but what you can do for your commercial property!