Improving Transaction Efficiency by Outsourcing Lease Abstract Services
Lease abstracts summarize key information in commercial real estate leases, including financial, legal and business data, in accordance with due diligence standards. The information gleaned from a lease abstract can be critical when considering a commercial real estate acquisition. While an ideal lease abstract is short and user-friendly, getting to that point involves reviewing, analyzing, and summarizing information that can be voluminous and complex. The lease abstract will vary in length depending on the details of the lease agreements and the overall objectives and complexity of the acquisition.
Resources
Individuals involved in preparing lease abstracts should have the necessary knowledge, training, and skills to capture and distill relevant information effectively, without missing key items that could affect the prospective purchaser or have a material impact on the transaction. When you outsource lease abstract services to a third party, you don’t need to spend the time or invest the resources to hire and train personnel to do this work, nor do you need to invest resources in designing and implementing processes. Instead, you can rely on the experience and expertise of the third-party provider. They will provide results promptly and cost-effectively.
Turnaround Time
Outsourcing lease abstract services can do more than simply save time and money. Besides helping companies avoid the time commitment and resources that would be needed to train personnel and build processes and controls, outsourcing can also result in a turnaround time that is significantly faster than firms could achieve by trying to wade through complex documents and terms on their own. When you work with a professional firm that provides lease abstract services in the regular course of business, you can handle transactions happening on a short time frame and still be confident that the voluminous transaction documents have been thoroughly reviewed.
Lease Abstract Services
Whether your organization has a one-time need for lease abstract services or you anticipate having an ongoing need, Baer Reed can help. Our professionals are trained attorneys and have met rigorous qualification standards similar to those at major U.S. law firms. We hold every employee to the highest standards for quality and service. To learn more about how we can help improve your processes and turnaround times, contact us online, or call us at (888) 433-1990.
- On June 19, 2017
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