1. Define your vision

• Select a convenient and accessible location or area for your business or medical practice
• Mentally configure the interior layout and estimate the size of space currently needed. In addition, calculate your forecasted room for expansion (if necessary), or for additional space that may be suitable for investment purposes.
• Estimate the maximum down payment and monthly payment you can afford or your forecasted goals.

2. Do your homework

• Research for comparable properties to determine the selling prices of similar properties.
• Research for lease rates of comparable properties.
• Contact a project developer or financial professional to estimate your ownership payments.
• Compare ownership payments to lease payments

3. Follow your vision

• Search the BREO database
• Create a list of desirable properties
• Tour the properties to make sure they fit your space planning needs
• Review the pricing, timing and available space configurations of potential properties

4. Don’t go it alone

• Consult with real estate professionals to simplify the purchase process.
• Turn to your CPA or banker for financial analysis
• Interview Architects and/or Interior Designers to assist in initial space-planning needs

5. Compare "apples" to "apples"

• Do a financial analysis to compare your choices
• Weigh the intangibles and advantages of each property

6. Pick the winner

• Select the property most appropriate for your needs
• Discuss general transaction details with the project developer and/or your real estate consultants
• Create a list of the basic space, price, and timing details as you understand them
• Request a sample Purchase and Sale agreement ("Contract") containing all of the relevant transaction details for review
• Execute the Contract and deliver "earnest money" to the title company handling the transaction

7. Gaining on the vision

• Review and note time requirements and objectives for the "feasibility" or "contingency" period under the Contract
• Begin work with architect/interior designer to prepare preliminary plans for the space
• Submit the Contract and relevant financial information to your lender
• Request preliminary pricing estimates from interior "finish-out" contractors for your space improvements
• Monitor the progress of your lender and architect to stay within Contract deadlines

8. Fulfill your vision

• Set up closing date/time
• Review closing statement details with your real estate consultants; arrange for insurance on your space
• Transfer downpayment funds for closing
• Schedule finish-out work with your chosen contractor

Total Time Required Through Closing:

Construction of Finish-Out Improvements: