Property acquisition refers to the process of acquiring ownership or rights over a property or a real estate. To acquire ownership over any property, the interested party would first do their research in order to find a suitable property. Some people choose to complete this step themselves while others hire an agent to do it for them. Oftentimes, having an agent work on your behalf results in having access to a larger pool of properties and contacts which may be helpful later down the line.
The next step is all about completing your due diligence, which is a crucial step and involves various examinations of the property, verification of the rental yield, an analysis of environmental issues and legal verification, amongst other things.
Even before the completion of all of these examinations, if the property valuation has been done, the buyer may choose to put in a written offer for the house. If an agent is involved, they would take care of this step, and potentially enter into negotiations with the seller to arrive at the best price for the buyer on whose behalf they are working. If a price can be agreed the contracts can be exchanged.