The various stage of acquiring commercial real estate nyc

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The Various Stages of Acquiring commercial Real
Estate NYC
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3 key phases of Acquiring Commercial Real Estate
NYC

• The Right offer
• Signing the Contract
• Completing the Acquisition

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1)THE RIGHT OFFER

• Remember that commercial property is not easily
  available. Once the perfect property becomes
  available, there are scores of applicants vying
  for the same space. One has to make a smart
  offer in order to stay on top of the game. There
  are chances that other applicants may try to
  outbid you. This is why it is imperative that you
  understand the value of the you want to purchase
  and that you submit your bid only after
  consulting with a real estate agency.

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Madison Properties
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• 2) Signing the Contract
• A smart seller will accept a sensible offer.
  However, acceptance of the offer is only half the
  job. The next stage is the most critical in the
  acquisition process. All the details and
  documents pertaining to the property need to be
  verified and authenticated. Aspects like the
  floor area, property documents, proof of
  ownership and taxation requirements need to be
  checked, verified and authorized by the property
  management agency on behalf of the purchaser. It
  is only after thorough verification that a
  contract is drawn up and signed.
• 3) Completing the Acquisition
• Once the contract is signed by both sides the
  transfer of money and documentation begins. The
  transfer of money either occurs in one shot or
  some property sellers are open to staggered
  payment plans. The process of transferring the
  documentation of the property and registering it
  with its new owners is one of the final steps in
  the property acquisition process. This can also
  be a time consuming process and sometimes real
  estate agencies can be a great help and complete
  this process for you.

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