Stay organized and compliant during the commercial real estate acquisition closing process. Tammy Sutton, Quatro Capital's Managing Partner, shares expert tips on lender communication, financial documentation, and more. Learn how to keep costs low and accuracy high. Tune in to the Real Estate Runway Podcast now.
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[00:01 - 07:48] Closing a Multi-Family Acquisition
Closing a commercial real estate property involves complex tasks beyond signing documents
The process transitions a deal into an asset
Best practices include remaining focused on current ownership and breaking the closing process into three phases
[07:49 - 15:16] Streamlining the Lender Closing Process
Prepare financial documents and real estate schedules in advance
Present documents in a clear and organized manner for lenders
Use a file structure that follows the lender's due diligence list
Avoid sending multiple documents in a single email and regularly update obsolete documents
[15:17 - 30:37] The Importance of Staying Organized for a Successful Closing Process
Stay organized and up-to-date on reports
Initiate title search and insurance early
Obtain W9s from investors when signing syndication documents
Quotes:
“Never take your eyes off of the current ownership process. You always have to make sure that they are operating the property as if they were going to keep it. “ - Tammy Sutton
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.
