Sell your Los Angeles Commercial Property to JetOffer in Any Condition
JetOffer buys Shopping Centers, Retail Buildings, Apartment Buildings, Land, Medical Buildings, Mix used Distress and unmanaged Properties
in AS IS Condition.
Faster closing than any traditional commercial sale
Why Does It Take Longer Time To Close A Traditional Commercial Property Deal?
Usually, the average escrow period for Commercial properties is longer than residential.
- It depends on the property types.
- Negotiation process which in many cases starts with LOI, Letter of intent.
- It is not uncommon to see 60-120 day “due diligence period”, in which the purchasing entity explore the purchase from many directions.
- The appraisal which usually takes 1-3 weeks.
- Financing complexity which usually takes 45-60 days after the due diligence period.
- Environmental issues and reports that the bank requires before they start with the financing process.
- Preparation of financial projections.
- Verification of leases and licenses.
- Many transactions and done by groups of investors which makes the bank’s verification process longer.
- Legal issues.
- Unexpected requests from the bank that might take longer and in many cases the buyer needs an extension.
JetOffer Can Save You Months
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