Detailed market analysis
Consultation with exit strategy including net sheets, 1031 exchange options
Our marketing system brings the highest price offer
Huge wealth of knowledge and experience that brings resolution of most obstacles
in an apartment building transaction.
If you decide that we will handle the sale of your building and we have discussed a listing price,next step is to prepare the listing paperwork so I can get started with getting the property on the market. Here is what you need to supply me once we have signed the paperwork.
1) A list of the building’s annual expenses
2) Copies of all tenant rental agreements
3) Copies of any service contracts including trash and laundry
4) Names, phone numbers, and email addresses of all tenants
5) Rent Roll
6) A copy of your mortgage Statement (if you have a loan)
7) Legal Documents
Services rendered to get the Apartment Building ready for sale:
Photographs, aerial photography, aerial mapping, income and expense detailed analysis, rent roll analysis, proforma income analysis, area specific rental comparable, an exhaustive area sold comparable analysis which takes into consideration specific GRM, Cap Rate, Price per Square Foot and Price per Door comparisons of similar sold properties.
1) Arrange a retrofit inspection
(smoke detectors, gas shut valves, sliding patio doors, swimming pool drains)
2) Arrange for interior unit inspections with the tenants
3) Arrange a termite inspection
4) Send a letter of introduction to the tenants (or you may prefer the sale to be kept private)
5) Order a Preliminary Title Report
6) take professional photos and videos for promotion
7) Prepare an Income and Expense Sheet
8) Prepare a marketing brochure
9) Prepare Agent Instructions on how to submit an offer
10) Prepare the tenant estoppels (may or may not be required)
11) Enter property in the Multiple Listing Service (Possibility of Off Market Listing if desired)
12) Email a marketing package to my investors
13) Email a marketing package to my commercial brokers
Marketing of your building, includes a placement in CoStar, MLS, Loopnet.com, and various real estate websites. All of the important data that an investor needs to evaluate your building will be readily accessible and downloadable.
Selling Your Apartment Building Off Market
You also have the option of having your sold OFF MARKET.
I can explain the pros and cons of doing this. As 70 % of Apartment Buildings are actually sold OFF MARKET.
Once we have offers coming in, we will review them and I will make recommendations on which ones to counter and what terms to put in the counter.
Selecting a proper exit strategy is an important part of the sales process.
Examples of the exit strategies we have structured into contracts to best benefit our clients include the 1031 Tax Deferred Exchange
If you have further questions or would just like to have a chat, please give me a call at(818) 287-7710 or email me at firstname.lastname@example.org . I look forward to hearing form you.
Documents related to selling an Apartment Building can be found in the document section.