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1031 Buyer Pre-Qual Questions
Manage episode 309333419 series 3031258
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Does the highest price win the deal?
It's not just me asking the questions. Good seller's brokers want to know who they are working with and assess the certainty of closing the deal.
Today, I discuss questions I ask new clients and share a list that a seller's broker asked when we presented an offer on a NNN Dollar General.
Here is the long list from the broker representing a large national REIT seller:
Thomas, Do you mind answering the questions below about the buyer real quick? Feel free to call me and go over verbally. Info on Buyer Where is buyer from? What’s their primary business? What other assets do they own and where? Do they own properties with the same tenant as this deal? Is the Buyer apart of a partnership? If so, how many partners are involved in the decision making process? Do you have an exclusive with this Buyer? Have you worked with the buyer before? Have they toured the property or been to the property? Are they familiar with the lease structure? All cash offer? If so, where are the funds coming from (sale of other property, investment account, etc)? Are they 1031? What is the total amount to replace and how much cash? If yes, what is their remaining time to ID? If yes, how many other properties have they identified and what are those assets? Do they have other outstanding offers? Who is their lender? What are their proposed terms/leverage? What would prevent the buyer from closing this deal?
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1031 Navigator helps investors nationwide find the best 1031 Exchange replacement properties in the shortest amount of time. Our focused expertise, experience and daily triple net NNN market presence enables clients to complete their 1031 Exchanges with peace of mind and certainty. 1031 Navigator has been involved with over half a billion dollars of 1031 Exchange NNN Properties in over 30 states. 1031 Navigator is a service of Andrus & Morgan Co., a national commercial and investment real estate brokerage specializing in passive income and triple net NNN investments. For a free, no-obligation 1031 Exchange NNN Property Strategy session for your 1031 Exchange visit: http://www.1031navigator.com
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