Buyer | Seller Representation

Buyer Representation

buer-seller-representationSometimes the best opportunities are the ones that have to be created. howardcommercial’s experience in the market gives our clients access to all properties, not just those currently listed for sale.

Our databases and resources enable us to efficiently contact property owners on behalf of clients who are interested in acquisitions of specific property types. In addition, we track all properties that are listed for sale through the brokerage community. Our company monitors local, regional and national business conditions to better understand their effect on the local real estate market.

This proactive approach allows our company to present our clients with a complete overview of the market and to negotiate from a position of knowledge and strength. Our expertise allows clients to focus on their business while we concentrate on their real estate needs.

Here’s how we do it:

Buyer Representation

Buyer Representation Process

Review and Assess Client Objectives

  • Determine the financial goals of the Buyer
  • Evaluate the financial resources of the Buyer
  • Thoroughly discuss the acquisition objectives
  • Review the protocol for decision making and legal representation
  • Identify  the specific property requirements including product type, size, location, visibility, parking and other unique features
  • Develop anticipated timelines for acquisition
  • Review capital structure and  financing arrangements

Property Identification/Site Selection

  • Identify prospective acquisition opportunities and prepare a comprehensive Site Selection Package:
    • Property Details
    • Location and site information
    • Investment analysis
    • Photographs and/or renderings
    • Area demographics

Preparation of Offers, Letters of Intent and Contract Negotiations

  • Present offer or letter of intent
  • Prepare the counter offer, if necessary
  • Negotiate all terms and conditions on behalf of the Buyer
  • Review and negotiate final purchase document as required
  • Open escrow

Due Diligence and Closing Activities

  • Arrange for any required third party reports
  • Analyze financial data including operating statements, budgets and rent rolls
  • Review all existing leases and contracts
  • Review documentation of existing debt, if any
  • Review building plans
  • Assemble and confirm zoning and land use data
  • Review covenants and restrictions
  • Study title information and deed restrictions
  • Review real estate taxes and assessments
  • Monitor all timelines and contract requirements to close of escrow

 

Seller Representation

howardcommercial maximizes value for our clients through knowledge and experience in the local marketplace, through established relationships and by providing a comprehensive platform of exposure for each property.

Our goal is to procure the highest price for our client by creating the most efficient, competitive marketplace possible. Our in-depth market knowledge and resources enable us to effectively target and qualify buyers, creating a competitive bidding environment to maximize value.

Here’s how we do it:

Seller Representation

Seller Representation Process

Review and Assess the Client Objectives

  • Any ownership issues that exist that may affect the transfer
  • The financial expectations of the seller
  • Anticipated  time frame for disposition
  • Restrictions, if any, affecting the marketing efforts
  • Ownership’s position regarding financing
  • Opportunities and constraints regarding a 1031 Exchange

Technical Review of the Property

  • Analyze financial data including operating statements, budgets and rent rolls
  • Review all existing leases and contracts
  • Review documentation of existing debt
  • Investigate competitive properties and perform a market analysis
  • Review building plans
  • Review the capital improvement plan (if any)
  • Examine environmental reports and surveys to confirm that conclusions are fully supported
  • Assemble and confirm zoning and land use data
  • Review covenants and restrictions
  • Study title information and deed restrictions
  • Review real estate taxes and assessments

Sales Flyers and Sales Packages

  • Executive summary, including unique property and location features
  • Property profile
  • Location and site plans
  • Photographs
  • Financial summaries, including actual operating statements, pro forma income statements and rent rolls
  • Lease/rental summaries
  • Market overview
  • Competitive analysis and site map
  • Area demographics
  • Traffic counts

Marketing the Property

  • Mass mailing and emailing of Property Flyers to howardcommercial’s proprietary database of targeted prospects;
  • Electronic advertising of properties is coordinated through the following websites:
    • www.loopnet.com, the world’s largest most visited real estate Internet Web site, receiving 5 million hits per month;
    • www.costar.com, the #1 commercial real estate information website;
    • www.xceligent.com, the nation's leading provider of verified commercial real estate information; and
    • www.ccim.com, the most highly recognized and respected membership of investment brokers.
  • Internet and direct e-mail promotion
  • Property signage (if appropriate)
  • Site tours

Review of Offers, Letters of Intent and Contract Negotiations

  • Qualify the buyer based on financial strength and commercial real estate history
  • Review the offer or letter of intent terms and conditions
  • Present the offer or letter of intent, along with the review comments to the Seller
  • Prepare the counter offer, if necessary
  • Prepare the draft of Seller’s standard Sales Agreement, if necessary
  • Negotiate all terms and conditions on behalf of the Seller
  • Open escrow

Due Diligence and Closing Activities

  • Provide all necessary due diligence information to Buyer
  • Answer Buyer questions regarding Property
  • Stay in contact with back-up Buyers
  • Monitor all timelines and contract requirements
  • Track escrow process to assure timely receipt of all required documents
  • Review title reports and closing documents

Reporting

  • The number of telephone inquiries received
  • The number of Property Flyers and Packages mailed
  • The number of Property Flyers and Property Sales Packages distributed via e-mail or in person
  • Property tours conducted
  • Action steps required
  • Planned activities
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