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The Buying Process


1. Define basic requirements:
  • Size and layout
  • Expansion requirements
  • Down payment available
  • Mortgage terms desired
  • Image and quality
  • Geographical area
  • Intangibles
  • Goals and assumptions




7 to 14 days
2. Preliminary Analysis:
  • Preliminary market survey
  • Sales comparables report
  • Estimated mortgage calculations
  • Proforma cash flow analysis
  • Lease vs. buy analysis




7 to 14 days
3. Selection / strategy with support team:
  • Attorney
  • CPA or Financial Advisor
  • Space Planner
  • Mortgage Broker
  • Interior Design (if desired)




3 to 14 days
4. Determine alternatives available:
  • General market knowledge of "deals" available
  • Search of database / Commercial MLS
  • Verification of terms and conditions
  • Present list




7 to 90 days
5. Narrow down alternatives:
  • Inspection tours of likely alternatives
  • Selection of 3 - 5 best alternatives
  • Preliminary space planning of best alternatives
  • Selection of top alternatives




7 to 14 days
6. Analysis of alternatives:
  • Financial analysis
  • Layout efficiencies
  • Intangibles and goal analysis



1 to 7 days
7. Final selection:
  • Choose top alternative
  • Establish terms required
  • Prepare and present Purchase and Sale Agreement
  • Counter offer as necessary




7 to 90+ days
8. Contingency Period:
  • Review and note time requirements
  • Hire appropriate services
  • Do detailed inspections
  • Finalize financing
  • Make appropriate applications
  • Remove contingencies in a timely fashion




15 to 90 days
9. Closing:
  • Escrow Checklist


1 to 7 days
10. Tenant improvement or Renovation:
  • Monitor progress
  • Report progress
  • Final walk through check


0 to 90 days
Total Time Required
55 to 430+ days
Realistic Time Frame
120 to 180 days

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