Do you have a pre closing check list and post-closing checklist?
- 2 days ago
- 2 min read
Your offer was accepted. Now what? Simple: completing your checklists day and night.
What is the catch? The catch is most buyers do not have the full checklists. This leads to delays and lost income. And sometimes a lack of pre- and prost buying checklist can lead to important items being missed and even to financial problems.
Some of the pre-closing items will require input and information from the owner and your attorney. Having the lists will also help make an offer. There are literally over 100 pre- and post-items to be completed.
Here are 7 common pre-purchase categories that must be broken down into multiple items for your checklist
1) Legal paperwork such as past due rents go to you, not the existing owner
2) New lease & client letters
3) Utilities /phone/internet in your name
4) Paperwork in your name
5) Insurance both owner & tenant
6) Take ownership of facility existing social media platforms
7) Maintenance list with cost and schedule
The post-opening checklist is extensive and often takes at least 26 weeks to a year to fully implement. This list is all about making site improvements, manager improvements, reducing expenses, knowing your customers and knowing your competition, sales and marketing so you can swiftly increase rental rates and occupancy.
Post-opening improvements done well can be the difference between your making money every month and you supplementing the facilities income to pay the bills and the bank.
Need help putting your post-opening checklist together?
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