What is due diligence after made an offer for the shopping center with an attorney's help?

The property is in Columbia S.C. The property offered without buyer's agent. I would like to make sure that I did a right decision.
In Buying Property - Asked by ling C. - Apr 10, 2009
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Answer(s)

Toby A.
Broker/Agent
Albuquerque, NM

This Depends on how big the Shopping Center is.... How many tenants?

Apr 12, 2009
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Brian M.
Broker/Agent
Huntington, NY

If you do not have the experience of having purchased shopping centers before, then it is best to hire a consultant to be responsible for working with you on the due diligence process, Mistakes made or information missed and not correct before closing can be financially haunting for years to come. Even experienced owners hire consultants at this phase if they do not have the resources to FOCUS on the due diligence during the relatively short time period where you are sifting through a tremendous amount of information. Attorney's should only be relied on for the legal input they can give you in a transaction. Their orientaion is not towards the operational and financial issues of the center.
Good luck adn remember to spend a few dollars up front to save yourself on the back end.
Brian Moss
Mossrei@aol.com

Apr 12, 2009
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Paul S.
Broker/Agent
Glendora, CA

I agree with the other answers. Many investors have a "team" of people to help with the due diligence (attorney, CPA, property manager, etc.). If you don't have access to professionals to help you, ask your broker for some referrals. Be sure that the people you have on your side have experience in the shopping center arena. Just because someone is a CPA it does not mean they have working knowledge when it comes to a shopping center. Same holds true with all the other professionals you have review things for you including your broker.
Hope this helps.
Paul Sylvester, CCIM

Apr 13, 2009
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