The following describes the typical Crest Net Lease transaction:
Step 1: Identify a Property
- Review our current inventory of properties listed on the Available Properties page.
- Email cwenthur@crestnetlease.com or sneville@crestnetlease.com or call us at 760-317-2929 to request a property information package containing: lease details, photos, maps, aerials, and demographics.
Step 2: Submit Offer
- After reviewing the property package, submit an offer:
- Download and print the Letter of Intent
LOI - PDF Format - Download and print the Confidentiality Agreement
Confidentiality Form - PDF Format - Review, complete, and execute the forms
- Send the completed forms to one of the email addresses above or
- Fax the forms to 760-741-8674
- Download and print the Letter of Intent
- Upon acceptance of the Letter of Intent and Confidentiality Agreement, our in-house legal staff will prepare the Purchase and Sales Agreement, which will be sent via e-mail within one to three days. The Due Diligence materials will be accessible upon receipt of the signed Confidentiality Agreement through an online data room.
Step 3: Due Diligence Period
- Our legal team works as the liaison between the buyer, the buyer’s broker, and the buyer’s legal counsel to settle the contract.
- The Due Diligence materials include, but are not limited to the following: the lease agreement, a land survey, an environmental site report, zoning information, a certificate of insurance, tax information, and tenant financials.
- If necessary, buyer engages perspective lenders and pursues loan commitment.
- With advance notice, our legal staff will coordinate your visit to the property.
- Escrow is opened and updated title is ordered.
- Our legal team manages the closing of the transaction and provides assistance in order to complete the transaction in a timely manner.
Step 4: Closing
- The closing documents are prepared, sent, and signed by all parties.
- Buyer’s funds are transferred and seller’s transfer documents are concurrently deposited to escrow.
- The good faith deposit is applied towards the purchase price.
- Broker’s commission is paid.
