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to topic listingProperty Acquisition Process
What is the process to buy a property through Commercial Investment Advisors?
Step 1) Determine your investment criteria.
Email, or fax your investment criteria to us. Please make sure you include your geographic, risk vs. return, and management desires. We will send you a list of available properties, and will contact Developers or Sellers on your behalf to find properties which may meet your requirements.
Step 2) Review opportunities that meet your criteria.
We can help you analyze the investment opportunities and provide you with the significant information to assist you in your evaluation.
Step 3) Submit a Letter of Intent.
Once you have determined that a property (or properties) might fit your criteria, we will assist you in drafting a non-binding Letter of Intent. Our website allows you to print and fax us a LOI or you may submit it electronically using our online form. This document helps you and the Developer or Seller "get on the same page" economically, and assists the attorneys in drafting a Purchase and Sale Agreement under terms and conditions agreed to by the Buyer and Seller. Often it is advised to write Letter(s) of Intent on more than one property (especially if the Buyer is involved in a 1031 Tax Deferred Exchange).
Step 4) Negotiate a Purchase & Sales Agreement.
Once you have a fully executed Letter of Intent, a Purchase and Sale Agreement is then negotiated by the parties. We have an online Purchase & Sales Agreement or a print version that can be printed and faxed. After all terms and conditions are agreed to between the Developer or Seller and the Buyer, the Earnest Money is deposited with a reputable title company and the Developer or Seller delivers the Due Diligence materials to you.
Step 5) In Escrow – Due Diligence
You then have a specified period (usually between 20-45 days) to review the due diligence materials and physically inspect the property or properties. Negotiations, questions and concerns are raised and discussed by legal counsel and both parties during this period. Once all questions and concerns are taken care of, the Buyer and Seller can proceed toward a Closing.
