What Is Site Acquisition?January 29, 2016
Site acquisition is the process that property consultants follow to obtain land on behalf of their commercial or residential clients. In the majority of cases, though, commercial clients are the ones who most seek out this service. The consultants will search available properties for the ones that fit the needs of their clients, perform all necessary verification tasks to ensure the property is sound and acceptable, and will negotiate the terms of the sales or rental contracts for their clients. Of course, the process goes into a bit more detail than this, and you can read about it in-depth below in our information.
The Steps in the Process of Acquisition:
1. Identify the Site
The first step in the process of acquisition is for the property consultant to locate and identify the site. When the property is already developed, this is easy since it will have a street address in the city along with a zip code. Locating the site is a bit more difficult when it is undeveloped land, but the property consultants understand how to read the official land records that provide the necessary coordinates that will lead them to the exact location.
2. Inspect the property
After the consultant locates the site, he or she will inspect the property to ensure that it lives up to the specifications of the client's needs. The inspection may just include a building, its foundation and the surrounding land, or it might involve undeveloped land. When the site is undeveloped, the inspection typically is in more in-depth than when it is developed. Soil testing may be necessary for just one example.
3. Ask for Documentation of Proof of Ownership
Property consultants should always ask for proof of ownership of the site before proceeding with the rest of the site acquisition process.
4. Negotiate the Lease or Sales Contract
Consultants also negotiate the lease or sales contract on behalf of their clients, including any improvements to the site that are necessary prior to the clients signing a contract. Property consultants understand the right way to negotiate the best price and terms of contracts to protect their clients' interest.
5. Attend the Contract Signing
Most of the time, the property consultants also accompany their clients to the contract signing. They wish to ensure that their clients do not need questions answered at the last minute.
Site acquisition includes all the above steps plus any others that are necessary to guarantee the site is ideal for the client's needs. Lease Link Property Consultants provide you with experts to perform the process for you in order to safeguard your interest when you seek a site for your residential or commercial needs.
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