Sands Investment Group as the realtor that represents both buyer and seller
Anyone dealt with Sands Investment Group out of Austin, Texas? Is this a legit company? I am trying to buy a commercial property represented by them and would love to hear from you if you have any experience. I was told that seller hires a lawyer to draft out the contract and picks out the escrow and title company. Should I be worried?
[{"id": "hsiz9uh", "text": "I haven't dealt with them particularly, but why isn't your lawyer reviewing the PSA anyway? Everything is negotiable including title company...\n\nBuyer typically will draft PSA and submit though.", "replies": [{"id": "hsjcha4", "text": "I still did not receive the actual contract yet. Still contemplating on whether to hire a lawyer for this.", "replies": [{"id": "hsjcpyo", "text": "Let me know if you want to chat. I'm in Dallas, TX", "replies": [{"id": "hsje47p", "text": "Will let you know if I decide on going that route.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hsj138g", "text": "I've financed a ton of deals with Sands IG and know their CEO. They are legit and run a clean shop. \n\nSeller typically picks the title company but as mentioned below, everything is negotiable.", "replies": [{"id": "hsjc1dl", "text": "Thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsj37vu", "text": "I haven't dealt with them personally, but know of them and they seem legitimate. I will say that you should have your own counsel, and things like who typically drafts the PSA, selection of the title company, closing procedures, etc. are largely based on local custom and will vary from state to state. There is no one size fits all.", "replies": [{"id": "hsj3enp", "text": "Thank you for your comment.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsj666s", "text": "I've never gotten past reviewing OM's and maybe talking to them about their deals but I've been getting their announcement emails for years.  I assume they are legit, they appear to do a large amount of business.\n\n--edit-- I think they use to put out cap rate reports to the public too for the big tenants (pharmacy/ff/etc).  I feel like I've looked at those before from them", "replies": [], "depth": 1}, {"id": "hsj9yl3", "text": "I've dealt with them on a few occasions, They are legit. In my experience It's very normal for the seller to draft the contract. I don't think you should be worried, although you should find out what's common and customary in the state you are buying in terms of responsibilities.", "replies": [{"id": "hsja8n3", "text": "Thank you for the additional input.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsjbio5", "text": "They are legit. 27 agents. Good designated broker. Could find no complaints or disciplinary issues.\n\nhttps://www.trec.texas.gov/apps/license-holder-search/?detail_id=1000037976", "replies": [], "depth": 1}, {"id": "hsjc69j", "text": "Thank you for the link. Found the agent there.", "replies": [], "depth": 1}, {"id": "hsjefl3", "text": "CRE appraiser here and I\u2019ve been involved with their deals on the valuation side. Nothing bad to say about working with them from my perspective.", "replies": [{"id": "hsjemgu", "text": "Thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsjnogg", "text": "Nah some of the brokers I work with have done deals with them. I\u2019m sure you are good. Do you have any financing needs for this purchase? I\u2019m a direct lender.", "replies": [{"id": "hsjo5wv", "text": "Not for the moment. Thank you", "replies": [], "depth": 2}], "depth": 1}, {"id": "hsjzdc9", "text": "They are a decent group it really depends on who the individual broker is. In the future I recommend using your own broker to assist in the transaction. The seller always pays the fee and when you go direct the broker has a fiduciary to the seller, not you. Therefore, they will fight for the seller and not look out for your best interests. Just make sure you have a strong attorney who focuses on the product type to make sure everything is in order for you", "replies": [], "depth": 1}, {"id": "ht4l1hy", "text": "one of the bigger boutique firms", "replies": [{"id": "htkcd7z", "text": "Thanks", "replies": [], "depth": 2}], "depth": 1}]