RENISON REALTY... Stockton's leading investment property broker, since 1980!
WHAT CAN YOU EXPECT FROM US?
You can expect professionalism and a level of expertise that comes from decades of experience in the specialized field of residential investment property brokerage.
To begin, we acquire information about your property, the tenancy, income/expense and other information necessary to provide a thorough market analysis.
MARKETING THE PROPERTY
A good marketing plan is a top priority for any seller. Our initial marketing includes contact with brokers and prospective buyers who have shown an interest in rental properties in Stockton. We have built a database of individuals through these many years that has proved to be a worthwhile source of buyers. When your property is placed into our local MLS the information also goes viral to such sites as Realtor.com. We develop and attach the Annual Property Operating Data report (APOD) when it’s appropriate.
Advertising by direct mail and mass e-mail seems to be the most effective with a target audience that includes owners of properties near or similar to yours. So we’re trying first to disseminate information to individuals likely to be qualified buyers and to those who may be interested in purchasing additional rental units in Stockton. Rarely is it a good idea to place a sign on the property because if often creates some anxiety for the tenants. However, this is your call. Occasionally a seller will ask for a yard sign and we will accommodate the request. In no case should a key box be placed where tenants reside.
A factor in the purchase contract for most rental properties will be the inclusion of an 'offer subject to inspection' clause, along with verbiage that clearly states what is required of a prospective buyer before he/she is allowed to inspect the interior. We think this Buyer requirement should be threefold: (1) a ratified contract, (2) an acceptable letter from the lender and (3) earnest money deposited into escrow. Once all contractual requirements are met, we give adequate notice to the tenants and then work within the time period in which the buyer is allowed access to the interior. After the buyer's inspection and written approval, we make every effort to have any agreed-upon trades inspections completed on the same day, so your tenants are not disturbed more than necessary.
Nowadays, the most efficient technique used in signing real estate documents is the ‘digital ink’ method endorsed by the California Association of Realtors. This system consists of forms we send to you via an email message that will include a link to the documents. When the first document is sent out, you will be given instructions on how to create a personal account using a password of your choice. When your account is established, any subsequent documents sent will simply require logging in with your password, followed by easy clicks of the mouse on each signature task contained within the document. However, other methods of your preference can be used (regular mail or scan/email, etc.)
During the time period allowed for entry and inspection, we will work together in scheduling with the tenants. We will rely on your assistance (or that of your property manager) for gaining access. This kind of direct involvement gives the tenants a certain level of confidence. Unless the buyer is paying all cash, there will come a time when the lender will contact us to schedule the appraisal inspection. At this point, all carbon monoxide, smoke alarms and water heater bracing must be in compliance.
Today, it seems the primary means of communication is by text message and email; as well the times when we have a good old fashioned phone conversation.
The escrow holder will likely begin by requesting some personal information; also, evidence of any liens or existing loans on the property. All of this is necessary in order to provide clear title to the buyer.
A requirement of the State of California is that written disclosures to be completed by the seller, buyer and any agents involved in a sale transaction. Most disclosures involve answers to questions on C.A.R. forms. Even if the property is sold as-is condition, state law requires a property owner to disclose all known material facts.
CLOSING THE SALE
The escrow holder will prepare closing papers that can usually be signed in an office near you or even in your home. At closing, we will provide you with a flash drive (USB) that will include all documents that were created from start to finish. This way, you will have everything you need for future reference!