A call for offer is a structured sale process where bidders submit offers by a specific deadline. Used on competitive LA multifamily listings to maximize pricing and create urgency.
CFOs are typically used for premium listings with broad buyer interest. The broker sets a deadline, distributes offering memoranda, coordinates buyer diligence, and collects sealed or open offers at the deadline. Final offers are then evaluated for price, terms, and buyer quality.
LA multifamily CFOs work well for post-1995 Costa-Hawkins exempt Class A/B in major submarkets with deep institutional buyer pools. Less effective on thinly-traded specialty properties or Valley submarkets where buyer pools are narrower.
From the Sterman LA Multifamily Glossary — defined the way a broker with $1.41 billion across 254 closed transactions actually uses these terms.
Michael Sterman, Senior Managing Director Investments, Marcus & Millichap.
Thinking about selling? Get a no-obligation evaluation from a broker with $1.41 billion across 254 closed LA multifamily transactions.
Request Free Evaluation →