Pacwest will act on the seller client’s behalf to do the following steps.
- Counsel with the client and the client’s CPA and real estate attorney
- Identify the client’s investment portfolio
- Identify the client’s purchasing capacity
- Need to sell an existing property, then acquire through a 1031 tax deferred exchange; or,
- Desire to acquire without first selling a property.
- Discuss the acquisition process and answer questions
- Create the agency agreement that employs Pacwest as the exclusive buyer’s broker for the client.
- Openly solicit for the desired property
- Notify other commercial – investment brokers with strong performance reputations
- Solicit on the internet through the best broker sources
- Periodically notify the client of progress or lack thereof.
- Request back-up operating information for potentially acceptable properties
- Report to the client concerning potentially acceptable properties
- Request prompt client input and follow up
- Propose a Letter of Intent or an Offer To Purchase
- Present the offer to the seller’s broker and the seller
- Obtain the requested performance information
- Conduct the due diligence inspections
- Pursue the necessary financing to generate optimum property performance
- Conduct negotiations if unexpected defects are discovered
- Clear contingencies and waive conditions
- Supervise the closing process
- Set up the property management plan
- Periodically review property operating performance
- Conduct a periodic property analysis with the client