Brokers provide services in two distinct capacities: before signing the contract we act as your fiduciary in procuring a qualified buyer and after the contract signing as your transaction manager, ensuring a smooth progression through to closing.
Pricing: We provide you with a comparable market analysis determining the right price point and pricing strategy for your property.
Marketing: We provide you with a consultation for staging and showcasing your property for sale. In addition, every FARE exclusive is supported by professional photography, floor plans, direct mailings and e-blasts. Showings and open houses are coordinated and commenced.
Buyer Qualification: Potential buyers are qualified through the submission of a mortgage pre-approval/qualification letter and financial disclosure statement. We critically review all financial credentials and make recommendations concerning a buyer’s perceived ability to proceed based upon our professional experience.
Negotiations: We negotiate the terms of the sales contract with regards to price, down payment, financing, inclusions, exclusions, closing date and may provide additional protective language if deemed necessary.
Contract Signing: We provide the attorneys for both parties with the agreed upon contract terms to draft, review or revise the contract of sale. We oversee this process to make sure that same is executed by and delivered to all parties in a timely manner.
Buyer Financing: We provide the lender with building and re-sale information in support of the buyer’s loan application when necessary.
Appraisal: We coordinate all appraisal appointments and provide the appraiser with any needed information or documentation.
Board Application (Coops & Condos): We assist in preparing this critical document with the buyer, when necessary, and will further carefully review same prior to its submission to the Board of Directors.
Board Interview (Coops): We prepare and guide the buyer through the finer points of this process when necessary.
Closing: We assist in coordinating the closing date, time, and location with interested parties and conduct the final walk-thru with buyers immediately preceding the closing.
Before you get started, gather your documents
Title Documents – deed or stock certificates.
Outstanding Loan Notes – information regarding any debt secured by your property & the amount of debt.
Property Tax Bills & Proof of Payment
Relevant Paperwork to the Property: major repairs, capital improvements, and re-sale restrictions, if applicable.
(For Condo & Coops, in addition to the above)
Building’s Financial Statements for last two years
Name and Contact Information of the Managing Agent
Homeowner’s Association Information, if any
Maintenance Statement (Coops) – Amount of monthly maintenance, percentage of tax deductibility and number of shares, if applicable.
Maintenance Statement (Condos) – Amount of common charges, real estate taxes and percentage interest in the common elements
Information regarding impending assessments, maintenance or common charge increases, flip/transfer taxes, sublet policy, pet policy and re-sale restrictions, if applicable.
Prepare Your Property
Determine what modifications, repairs or improvements should be made to your property to enhance appeal or that may be legally necessary to the sale.
Source: The FARE Group, Real Estate Broker