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#443849 - 03/02/15 01:54 PM PLEASE HELP with commercial transaction in CA!!
916Realtor Offline
Member

Registered: 04/10/06
Posts: 80
Loc: Sacramento, CA
OK... I'm a residential agent and I've been doing it for years. I agreed to help my in-laws list their commercial property. It's currently an oil change shop. We now have a buyer wanting to turn the place into a 7-11 and I'm finding myself a bit lost. In the beginning I figured that commercial was probably the same as residential where you would get a buyer into contract, give disclosures, wait for them to do inspections/appraissal, and wait for them to close. I'm finding out more and more that things are done completely differently. The buyer's agent asked me if due diligence has been done. I had no idea what he was talking about. The only due diligence I knew from the residential side was the due diligence we had to exercise in completing disclosures. What's he talking about? Also, can someone explain to me the steps in a commercial real estate transaction? What's different? The buyer's agent said most disclosures are done from the buyer's side. Is this true? PLEASE HELP!!! I feel like a deer in the headlights dealing with this transaction.


Edited by 916Realtor (03/02/15 02:17 PM)

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#443952 - 03/06/15 12:42 AM Re: PLEASE HELP with commercial transaction in CA!! [Re: 916Realtor]
joepro Offline
Member

Registered: 12/28/12
Posts: 55
Loc: South Tampa
refer this to a commercial agent in your area, fast, you should never have taken the listing, or let the buyers agent take over the deal and accept a referral fee, you dont deserve a commission


Edited by joepro (03/06/15 12:44 AM)

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