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Product ID: 401211EAU
 
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Handling Multiple Offers in Commercial Real Estate

OnDemand Webinar (87 minutes)

Understand the structure of the competitive bid process and the inherent risks and costs of multiple bids.In a competitive acquisition environment it is not unusual for a buyer or seller to be involved in a transaction involving multiple parties desiring to purchase the same property, whether as a result of the seller making the property available for sale only in a competitive bidding process or as a result of multiple buyers making offers to buy a listed property in a similar time period. The existence of multiple potential purchasers presents different issues for the parties involved in the transaction. Sellers need to make sure they have protected themselves from being deemed to have entered into an agreement to sell before having actually selected a buyer's offer. Buyers need to understand the process and how to make their offer the most appealing to the seller. In a strong market, a buyer wants to be able to show that it understands the property and the market, and that it has the ability to perform. This material will review the typical structure of a competitive bid process, the risks and costs inherent in multiple bids, steps a seller may want to take to maximize the potential of choosing the right buyer, and ways in which a buyer can make its offer the most attractive to a seller.

Authors

Kenneth S. Kramer, Nossaman LLP

Agenda

Selling and Buying Property by a Competitive Bid Process

• Receiving Offers From and Making Offers as a Qualified Bidder

• Selecting Buyers for Best and Final Round

• Factors to Consider From or Address in Final Round of Offers

Receiving and Making Multiple Offers

• Evaluating Offer Terms

• Seller Inviting Subsequent Offers

• Addressing Requirements for Acceptance

Factors to Consider

• Buyer Qualifications

• Good Faith Deposits

• Performance Concerns

• Disclosure of Known Conditions

Additional Formats

Audio & Reference ManualMore Info