Multifamily Group – Short Sale, Note and Bank Sales
Whether you are a property owner, potential investor or financial institution, the process of short sale, note sale and OREO disposition can be frustrating and at times confusing.
For Property Owners: If your multifamily property is no longer able to make positive cash flow or make debt service, you have options. You can use additional capital (from your own reserves or investors) to shore up the property investment or you can enroll the assistance of a professional in guiding you through negotiating a possible short sale or write down of the property. In many cases, your lender may already understand the situation you are in and be willing to work with you on a disposition. But beware: Personal guarantees must be addressed and cross collateralized properties identified and a compromise reached as how to move forward.
For Investors: Investors in cash heavy position have been able to take advantage of lenders in need to move properties off their books quickly. But pitfalls exist in this world as lenders may have strings attached. Often times these deals require no or very short due diligence periods, limited financial records and no warranty as to the tenants you are assuming.
For Financial Institutions: If your institution is faced with multifamily OREO, notes or multifamily maturing debt, National Multifamily Group consultants can help. From working with receivers on asset sales, sale of notes or unpackaging properties secured by purchased notes and analysis of income and expenses of properties you are considering extending credit to, our professionals are able to provide objective analysis, quick turn around and international marketing reach for property resale.