Waller Group interfaces with JLL and CBRE’s capital markets, regional and local appraisers to reconcile valuations upon completion of initial valuation. The underwriting methodology includes income approach appraisal theory in addition to current Fannie Mae and Freddie mac underwriting specifications.
-If the seller executes a listing/marketing agreement Waller Group presents the property to multiple interested buyers simultaneously, tremendously increasing the probability for competitive offers. When
buyers compete for a property it improves the terms and price of the offers, resulting in a higher net proceeds for the seller than when Waller Group does not have an executed listing or marketing
agreement Waller Group is legally bound to represent the purchaser since the purchaser is the only party that has agreed in writing to pay a commission or marketing fee.
If the seller has not executed a listing agreement Waller Group requires the buyer to sign a fee agreement which typically excludes Waller Group from offering to multiple buyers, therefore when the
property is presented to the buyer it is with the verbal understanding the seller has agreed to pay the fee and the price presented includes the verbally agreed upon commission rate paid by seller.
This will be dictated by the type of financing and property performance and typically determined on a case by case basis and addressed when the property valuation is presented to the seller, depending on the type of marketing strategy determined and agreed upon by Waller Group and the seller.
Generally, typical contract terms include a 10-30 day feasibility period for property inspections and due diligence completed by the buyer. If the property is listed by Waller Group most of the time Waller Group will reconcile multiple offers and assist in negotiating non refundable earnest money at contract execution, lowering the probability of a renegotiation during the feasibility period.
After the feasibility period financing contingencies are typically another 14-30 days depending on the type of loan originated. After loan contingencies expire closing generally occurs 10-30 days following, resulting in a typical timeline of 60-90 days, depending on how the contract is negotiated, timeline of seller deliverables for financial due diligence, and type of loan and buyer experience.