James Kasim is a former senior manager at Ernst & Young, where he served in the real estate and hospitality department. During his 11-year commitment to the company, James Kasim provided services, such as real estate acquisitions, to some of the major real estate companies in the industry.
The process of real estate acquisition may seem tedious to some, but it can be outlined in a few broad steps:
1. Property Appraisal. This step initiates the real estate acquisition process. The appraiser connects with the property owner and determines the estimated market value of the property.
2. Negotiations. Once the General Services Administration (GSA), a US government agency, approves the proposed compensation, negotiations between the property owner and real estate agency follow. During this period, both parties discuss terms of payment and acquisition.
3. Settlement. When the GSA, the real estate agency, and the property owner fulfill all requirements, a settlement agreement ensues. Payments are delivered and property owners are given a specific period of time to relocate.