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I was pricing industrial space in Southwest Detroit all wrong for a year
For the longest time, I was just looking at the price per square foot and the basic lease terms. I thought that was the whole game. Then, about two months ago, I was walking a client through a 12,000 sq ft building on Fort Street, and he asked me point blank, 'What's the annual tax bill on this parcel?' I had to scramble to find it, and the number was way higher than I'd guessed. It completely changed the deal math. I realized I'd been ignoring the actual cost of ownership for the buyer, focusing only on the seller's asking price. Now my first move is pulling the full tax history from the city's online portal before I even schedule a showing. Has anyone else had a client school them on a basic detail they were overlooking?
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the_paul7d ago
Happens with car insurance and phone bills too.
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mary_foster927d ago
Seriously? It's just property tax. That's like, the first thing you check. I'm surprised a real pro wouldn't already have that in their basic packet. Seems like a pretty big thing to miss for a whole year.
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grantf731d ago
Yeah, "the first thing you check" is the whole problem. It feels like everything is set up so the basic stuff you need to know is buried under ten layers of fine print.
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