The Apartment Buying Process

Take a moment to familiarize yourself with the buying process for commercial real estate as it differs significantly from residential.
Summarization of the commercial real estate buying process:

1. Determine Your Personal Investment Criteria
2. Determine Preliminary Loan Terms/Requirements/Abilities
3. Run Property Search/Work with Broker
4. Weed Out Properties
5. Run Preliminary Numbers on Remaining Properties
6. Preliminary Due Diligences:
7. Strategize Deal Structure
8. Letter of Intent
9. Begin to Secure Financing
10. Due Diligence (Legal, Financial, Physical)
11. Re-Negotiate Purchase Terms as Necessary
12. Issue Purchase Contract
13. Finalize Financing
14. Final Inspection & Review of Documents
15. Close Escrow

Although this is the progression of the steps involved, several steps are typically completed simultaneously.