18_017 Checklist for preparing successful sale packages

Admin_Edge · 13 September 2023 06:56

1. Name, address, and general description

To prepare a sales package outline, start by adding the property name.
Include the full address, including the zip code.
Describe the property’s unique features, architectural style, and stand out characteristics.

Property Size: Specify the exact land and building square footage or acreage.
Year Built and Renovation History: Note the year of construction and any significant renovations or upgrades made over the years.
Condition of the Property: Provide an assessment of the property’s condition, including any recent maintenance or repairs.
Environmental Reports: If environmental assessments have been conducted, summarize the findings and any mitigation measures taken.
Existing Liens or Encumbrances: Clearly list any existing liens, mortgages, or encumbrances on the property.

List of current tenants: Include tenant names, types of businesses (for commercial properties), and lease start and end dates.
Lease terms: Detail lease terms, including rental rates, security deposits, and any special provisions.
Tenant payment history: Include a summary of rent payment histories and any arrears.
Tenant contact information: Provide contact details for each tenant, including phone numbers and email addresses.

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Population trends: Highlight population growth or decline trends in the area.
Income levels: Include median household income statistics for the neighborhood or region.
Employment opportunities: Mention major employers in the vicinity and industries driving job growth.
Crime rates: Include relevant crime statistics or information about neighborhood safety.
Schools and educational facilities: Detail the proximity and quality of nearby schools and educational institutions.
Nearby amenities: List nearby shopping centers, parks, public transportation options, and other amenities.

Historical financial statements: Present several years of historical income statements and balance sheets.
Projections for future income and expenses: Provide a clear breakdown of anticipated income and expenses over the next few years.
Net operating income (NOI) calculation: Explain how NOI is calculated and provide the actual figures.
Capitalization rate (Cap rate): Justify the chosen cap rate based on market conditions and comparable sales.
Cash flow analysis: Include a cash flow statement showing net cash flows, including debt service.

Existing mortgages or loans: Specify the current loan amounts, interest rates, and remaining terms.
Interest rates and terms: Provide details on loan terms, interest rates, and any adjustable-rate provisions.
Loan amortization schedules: Include schedules showing principal and interest payments over time.
Prepayment penalties: Disclose any penalties or fees associated with early loan payoff.

Site plan: Include a detailed site plan showing property boundaries, buildings, parking areas, and landscaping.
Floor plans: Attach floor plans for each building, indicating room dimensions and usage.

Property location: Highlight the property’s location on a city or regional map.
Proximity to transportation: Indicate the distance to major highways, public transit, airports, and ports.
Geographic features: Note any natural features that enhance the property’s appeal.

High-quality photographs: Include high-resolution photos showcasing the property’s exterior, interior, and key features.
Aerial photos: Provide aerial shots to give a comprehensive view of the property and its surroundings.
3D renderings: If available, include 3D renderings or virtual walkthroughs for a more immersive experience.
Virtual tour links: Offer links to virtual tours for remote property exploration.

Recent sales: List comparable properties that have sold recently, including sale prices, square footage, and proximity.
Price per square foot analysis: Calculate the price per square foot of the subject property and comparable sales.
Market trends and statistics: Include data on market trends, vacancy rates, and rental rate trends.
Competitor analysis: Identify competing properties and highlight the subject property’s advantages.

Sale price: Clearly state the asking price and any negotiation flexibility.
Terms of sale: Outline the terms, including financing options, contingencies, and timelines.
Inclusions and exclusions: Specify what is included in the sale (e.g., fixtures, appliances) and what is excluded.

Contact information: Provide the listing broker’s contact details, including name, phone number, and email.
Broker’s commission structure: Explain the commission structure and any incentives for cooperating brokers.
Exclusive agreements: Mention any exclusive listing agreements or terms that may impact the sale process.

Title deed: Include a copy of the title deed and information on title insurance.
Survey reports: Attach recent property surveys and boundary descriptions.
Property disclosure statements: Include any legally required property disclosure statements or disclaimers.
Inspection reports: Summarize any recent inspection reports, including repairs made in response.
Legal agreements: Provide copies of relevant legal agreements, such as easements or restrictive covenants.

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Marketing plan: Describe the marketing strategy, target audience, and promotional activities planned.
Advertising materials: Include samples of brochures, flyers, and online advertisements.
Online listings: Provide links to online listings on the MLS (Multiple Listing Service) and other real estate websites.
Open house schedule: Announce dates and times for open houses, property tours, or private showings.

Key personnel: List contact details for key individuals involved in the sale, including sellers, brokers, attorneys, and property managers.
Emergency contact information: Provide emergency contact information for immediate assistance during the sales process.