FOR BUYERS
AND
TENANTS
OUR PROCESS
1:
Initial Meeting
The first step in any relationship is a meeting. We're happy to host at our office, travel to your place of business, or meet at a local coffee shop. Other than getting to know each other, this meeting is intended to ensure we understand your objectives. Are you trying to buy a property for your business, or lease it? There are advantages to both paths and you may leave the meeting interested in a path you hadn't yet considered. If you're purchasing, have you thought about how various kinds of financing (such as conventional or 504 SBA loans) will affect your bottom line?
If we're meeting at a candidate property, we'll take a look. And with that, we're off!
The Search
Now it's time for the hunt. Seldom does the first identified property end up as the ultimately purchased one. If it is, that's great! We can skip to step three. For everyone else:
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We tend to take a wide approach during our first round of searching. With your requirements in mind RYER will identify a number of locations we feel are worthy of consideration. Most will follow your parameters, but we also like including a few outliers. They might strike an idea or draw us in an interesting direction. If nothing else, it's just as valuable to understand why a property isn't ideal, as it is to know why it's attractive.
Based on the results of the initial search, RYER will further refine the criteria until a select group of candidate properties remains. We will preview them, set up tours with you and your staff, and perform initial analyses in order to see just how suitable each site is.
2:
3:
Negotiation
You've chosen a location. Now we need to get you the best possible deal. And we don't mean just in terms of price, though that's certainly important. RYER Associates brings to bear decades of experience negotiating on behalf of buyers, sellers, lessors, and lessees. Commercial Real Estate should not be considered a zero-sum game, so we try to reflect that in our collaborative approach to negotiations. Here's how it works:
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We review everything we know about the property and develop a non-binding Letter of Intent (LOI). This is the working document that will be used to settle the business terms of the deal, such as price, timing, and any contingencies.
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In all likelihood, the other party will want to counter. We will assist you with the back-and-forth, serving as an intermediary and expert negotiator.
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It's time to take out your checkbook, because once both parties have agreed to the business terms we bring the LOI to the attorneys. They generate a contract or lease based on that document, and after the legalities are hashed out both parties sign on the dotted line.
The Deal
This stage of the process can be broken into a few steps, each of which can last days or months:
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Contingencies: your deal will almost certainly be contingent on a few things happening. It could be anything from financing, environmental testing, building inspections, or zoning permits. There are many different kinds and part of our job is finding out which will give your deal the greatest level of security.
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Approvals: just because the property is perfect for your business doesn't mean the town feels the same way. From zoning restrictions and building permits to open hearings, there are countless ways a municipality can disrupt a deal. We're here to help guide you through that process. This is usually part of step one, but often one of the longest-lasting phases.
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Celebrate!
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5:
Post-Transaction Support
Just because the deal is done doesn't mean we have to say goodbye. As a client of RYER Associates, we're there for you. We can provide assistance if you need:
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Help with renewals
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Post-closing leasing and management services
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Tenant/Landlord communication aid
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Guidance with municipal questions
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Someone to join you for a cup of coffee, a beer, or that celebratory vacation to the Bahamas you planned