Buyer Representation: Acquiring the desired property

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