Searching for a discount on real estate?
Trying to find a good deal in apartments can be difficult. However, if you have the right commercial real estate broker in Atlanta by your side it can be achieved. Here at the offset visors you can trust and ask. So many customers and clients have in the past. That is why we have such a high rating and reviews on our Google business listing. Competition doesn’t even focus on reviews at all. Therefore it is easy for us to stand out and showcase why we are the best commercial real estate broker in Atlanta. If you need help sourcing an apartment deal visit our website today.
Moreover, the competition is stiff when it comes to apartments and multi-family right now. Doing in this market as well as the industry you learn a few things. Things. We have seen a lot of situations that we thought would not arise. Many of these situations generally do not happen in other commercial real estate verticals. So when they do it is important to have an experienced commercial real estate broker in Atlanta that is representing you. We represent a multiple represents a multitude of investors. These can be individuals, small LLCs, or even large investment funds. No matter the size of your investment or your investment pool The Office Advisors is here to help.
An apartment deal story
Recently we have been under contract to sell a townhouse community. Are in a certain program. This program is a government-subsidized rental assistance program. Therefore, it has certain hurdles to overcome. These Sellers as well as the buyers understand that is not a quick or easy process. Both sides of the transaction have been working diligently towards closing.. Unfortunately, things have changed.
Originally in, they’re supposed to be a tour set out for due diligence as well as eyes on the property from the Myers. This tour was set up a weekend in advance at a designated time that the property manager could accommodate. Many communities have on-site property managers. However, they generally don’t work every day of the week and one location. So we said yeah so we set it up at a time that would be beneficial for all parties.
On the day of the tour
Now, this is where things got interesting. The Office Advisors had 3 representatives there to meet the buyer. This story makes a little bit of a convolution when trying to understand the situation. So so one of our commercial real estate brokers and Atlanta’s representing the cellar. However, the buyer was being treated as a customer by another team of commercial real estate brokers in Atlanta. These guys are filiated with us but on the residential side. So they are there just to help out and as well as put a face to a name for everybody.
At the time of the showing, there is still no party to be seen from the fireside. The 3 commercial real estate brokers in Atlanta were standing there speaking with the property manager. Now you have to understand this is a very rural part of Georgia that is poor. That’s why there is a government-subsidized program attached to To the townhomes.
We tried to contact the party who would be there and get an estimate of their arrival. Shortly after trying to reach out to the buyer, a BMW pulled up to the property. Outside of the well-dressed individual. This man after some conversation found out that he’s a realtor. Some confusion was set in
Going forward on the confusion
Some questions have arisen and then it came to find out that this was someone who wanted to purchase the property. Which doesn’t make too much sense because we are already under contract. After we allowed him to tour the property S and choose an interested purchaser. The 3Commercial real estate brokers in Atlanta as well as the property manager and there am a potential buyer started walking the vacant units. We saw a newly renovated one as well as aA unit that is still waiting to start the process.
The individual who showed up for the property towards the scene excited and was very interested in the property. Which of course is a good thing if you’re trying to sell the property. However, the offset adviser’s already had under contract with another party. The decision was made to go farther down the highway back towards our respected offices and meet for lunch to discuss. Cracker Barrel was chosen as it is a true Southern staple as well as a great meeting place.
When sitting at the table the parties talk through and came to the conclusion of 1 of 2 things. This of course was done after the fact that the individual who showed up to tour the property tried to ride an offer for the apartments. After explaining that we could not accept an offer or even a letter of intent since the property was under contract and due to close.
The conclusions we came to through questions of the original buyer and how this new individual got involved for this period one the original buyer was trying to assign the contract. Even though there was no added fee or price increase to accommodate a spread. This was found out after her understanding that he was gonna write an offer for the same amount.
The next conclusion
The 2nd potential answer was the answer was and this didn’t make sense at the time he’s either gonna bring a partner or really brighten the contract and sell it to this guy. This was all kind of convoluted and didn’t make much sense to any of us. So as any good commercial real estate broker Atlanta would do. We did the conversation said more information needs to be had. We’re not gonna get anything in writing until we completely get the full picture of the intentions of all parties before moving forward.
Later in the day when nearing the office we finally heard from the original buyer. He informed us that he was apologetic and denied was apologetic and did not give a full picture of what the attention has appeared after his explanation we found out that this buyer was not going to be able to perform when it hits partners on board with purchasing this asset. He then met this newer buyer at the closing of another real estate deal. Started telling him about the property and was actually trying to do us a favor.
Even though there seems to be confusion we’ll still get the deal done for the sellers. This is what happens when you’re a good commercial real estate broker in Atlanta and you work with the Office Advisors. We’re able to sort through a very muddy situation in order to get the results I don’t want that at the end. Asking questions and navigating through government townhouses and subsidized properties is difficult. However many trust the offset advisors for this task.
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A good read
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Other company
The Office Advisors isn’t just a good commercial real estate broker in Atlanta, but we are more. Thankfully we are able to assist clients on not only real commercial real estate but residential as well. Whether you need help purchasing a new home or building an office park we’re the team for you.
