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I am pleased to introduce two fractured condo developments currently up for sale.
Portfolio #1: Fractured condo building, development in SW Texas. 54 out of 100 units. Lender asking $900K ($16,667 per unit - $20.77 per sf). Due to majority interest in community, buyer will assume control of HOA dues and fees; also set HOA dues and fees.
Portfolio #2: Fractured condo building, development located along Florida's West Coast. 60 out of 108 units available. Asking $3.35M. Opportunity for new investor to acquire community priced significantly below replacement cost. Out of 108 units, 60 condos went unsold but are currently operating as rentals. Area has current and traditionally high occupancies. Buyer will assume control of HOA.
If interested, we will need an executed NDA, LOI, and SPOF. LOI has to be on corporate letterhead and must be signed and dated by President or Owner. SPOF will need to be letter from bank official stating that the buyer has capability to provide funds for the requested amount in the LOI.
Pts, fees are 3% of purchase price to be PAID BY BUYER.
Steve, I will definitely check with seller to see if units can be delivered vacant, but I can certainly say that all 54 units are currently operating as rentals.
I am intermediary to the buyer's mandate. Are we splitting commission from buyer's fee ? What is your position ?
Thanks for inquiring. On both deals, I am next to bank's exclusive agent. Thus, your group and our group would be splitting commissions. Hope I answered your question.
Please send me info on the 54 units in SW Texas.
Will send NDA to your personal email address. After agreement is signed, will send OM in subsequent email.
Please send over NDA, so I can get OM.
I work with a buyer who is currently seeking properties nationwide email me your information so we can discuss arrange for you to speak to the buyer