Posted 07 Mar 19 By: No comments yet

WE ASKED – How long does it take to do a deal?

By Juliana Vadnais, Albuquerque Business First | March 1, 2018

We Asked - How long does it take to do a deal?

A real estate deal can take anywhere from a few days to complete to months and even years.  There are many factors that go into the timeline of inking a real estate deal, among them distance the party is moving, special requirements and man more.  

According to Debbie Harms, CEO of NAI Maestas & Ward Commercial Real Estate, real estate deals can generally take anywhere from one to 15 months.  Jim Chynoweth, managing director of CBRE Inc, said the quickest deal can take place in about a week, while he had a deal that bean in 2014 but didn't close until this year.

Robert Powell, principal at Retail Solutions, said the average sale would take approximately two to five months.  He also provided a timeline for representing a buyer:

Buyer initiates a search for investments that meet their requirements.  Brokers spends 3-6 weeks identifying potential investment.  Buyer makes offers on potential investments.  Brokers and buyer tour potential properties.  Buyer makes offers on properties. Buyers puts property under contract.  Buyer reviews due diligence ( about 30-60 days).  Buyer close on deals within 15-30 days post due diligence period.  

 
NAI Maestas & Ward specializes in retail, office, land, multifamily, industrial, investment, business opportunities in the commercial real estate industry.

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