FREQUENTLY ASKED QUESTIONS

HOW ARE WE DIFFERENT?

We at Lafayette Realty Group aim to provide superior brokerage services, backed by the latest research, analytics and evaluation expertise. Our clients’ interests always come first, as our success depends on it. We are also real estate and business owners, and treat every new listing like it is one of our own.


Unlike other brokerages in the space, we are not bound by rigid policy guidelines like some national real estate firms headquartered in far-off cities. We provide flexible services that rapidly adjust to changing demands and fluctuating business conditions. We can provide you with up-to-the-minute sales and leasing information, as well as honest projections of future real estate value, based on our many years of experience.

Moreover, unlike other brokerages, Lafayette Realty Group offers an integrated property management service to allow for a seamless transition from closing to operating.

HOW DO I GET STARTED?

Whether you are buying or selling your property or business, we at Lafayette Realty Group can help. Simply contact us and get started today!

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WHATS THE PROCESS?

The process (typically) goes as follows:

Buyer-Side Representation

  • Buyer determines budget, investment objectives and preferences

  • Exclusive Buyer Brokerage Agreement signed between Buyer and Lafayette Realty Group

  • Lafayette Realty Group researches and identifies potential properties based on Buyer's criteria

  • Buyer selects preferred properties

  • Negotiations ensue between buyer and seller's brokers

  • Buyer decides to submit an offer (Letter of Intent) on preferred property based on initial due diligence

  • Seller accepts/counters Buyer's offer

  • A Purchase and Sale Agreement (PSA) is then drafted by Buyer's attorney and sent for review and signature to Seller

  • Buyer enters into Due Diligence and reviews Seller and third party sourced documents

  • Buyer completes Due Diligence and prepares to close

  • Title Agent prepares closing documents

  • Buyer and Seller execute the closing and property deed is transferred.


Sell-Side Representation

  • Seller decides he/she wants to sell his/her property and/or business and contacts Lafayette Realty Group

  • Lafayette Realty Group will perform a free and quick evaluation of the property and/or business and provide the seller with a BPO based on the value the property and/or business in the current market.

  • Seller signs an exclusive listing agreement with Lafayette Realty Group

  • Lafayette Realty Group will begin to market the property based on Seller's preferences

  • Lafayette Realty Group will begin receiving and forwarding offers from potential Buyers

  • Seller and Lafayette Realty Group will begin discussing Pros and Cons of each offer, ultimately selecting the offer that best fits Seller's objectives

  • A Purchase and Sale Agreement (PSA) is then drafted by Buyer's attorney and sent for review and signature to Seller

  • Buyer enters into Due Diligence and reviews Seller and third party sourced documents

  • Buyer completes Due Diligence and prepares to close

  • Title Agent prepares closing documents

  • Buyer and Seller execute the closing and property deed is transferred.

CAN I APPLY FOR FINANCING?

We've been working hard since the early 2000's, assisting clients through every step of the real estate process - notably obtaining financing. From connecting you with lenders to handling legal issues and paperwork.

 

Our company works with dozens of local and national lenders that can finance your investment projects, big and small. Our experience working with both institutional lenders as well as hard money lenders gives us the ability to guaranty your chances of closing deals regardless of your project.

Connect Me With A Lender

I DO NOT LIVE IN THE UNITED STATES- CAN I FINANCE MY PROJECT?

The answer is yes! Foreign nationals from around the world obtain financing in the United States for their investment projects everyday. Whether you're buying a property or a business, we have a lender willing and able to help.

Connect Me With A Lender

CLOSING

Often referred to as “escrow,” “completion,” or “settlement,” the real estate closing process is the last step in the process before the property is officially in your ownership. This last step is crucial and we strongly recommend a team of experts, legal and otherwise, guide you through the process.

HOW DO YOUR COMMISSION FEES WORK?

Every Brokerage is different - We at Lafayette Realty Group believe in putting our client's interest first. To that end, we do not charge a cent unless your deal closes. There are no hidden fees, extra charges or other unexpected and unwanted surprises. We will gladly discuss our commission structure with you and and go over the services provided in exchange.

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DUE DILIGENCE AND ESCROW

This is where it gets a little more real. Money is about to change hands. You'll need to dot all the i's and cross all the t's. You can never know too much about the property you'll buy.

During this time, we'll be performing calculations, reviewing documents, procuring insurance, walking the property, etc. — essentially doing your homework for the property BEFORE you actually make the purchase.

Also, you and the other party (buyer or seller) will need to identify an escrow agent who will be the neutral 3rd party overseeing the transaction. They will help with the transfer of deeds and funds. They make sure both parties are protected in the transaction.

MARKETING

Because we are a boutique firm, we offer our clients the flexibility to choose from a variety of marketing options. This includes promotions like special targeted mailings, web advertising, mass email campaigns and catered tours.

Our marketing plan for individual properties includes attention-getting signage; brochures; targeted direct mail and email campaigns; web advertising and promotion; personal calls to clients, investors and prospects; and longtime affiliation with professional listing services LoopNet, CoStar, Crexi, BizBuySell and The MLS.

IMPORTANT TERMS TO KNOW

  • Loan-To-Value (LTV): A ratio of how much money you're asking from a lender vs. the total value of what you want to purchase.

  • Debt Service Coverage Ratio (DSCR): Operating income over total debt service. Basically how much of the debt you'll be able to cover each year with income.

  • Capitalization Rate (Cap Rate): Income of the property divided by the total value of the property.

  • Cash on Cash: Annual income over how much you actually invested. The amount invested could be just the amount your down payment was.

  • Vacancy Rate: Percentage of properties that are vacant in a time period in a given area.

  • Ad Valorem: A tax based on the assessed value of a piece of property.

  • Profit & Loss (P&L) statement: A financial statement that summarizes the revenues, costs, and expenses incurred during a specified period.

  • Purchase & Sale Agreement (PSA): An agreement between a buyer and a seller. A PSA sets out the various rights and obligations of both the buyer and seller, and might also require other documents be executed and recorded in the public records.

  • Brokers Price Opinion (BPO): A tool used to value a property in the current real estate market.

All information provided herein has been obtained from sources believed reliable, but may be subject to errors, omissions, change of price, prior sale, or withdrawal without notice. Lafayette Realty Group LLC and its affiliates make no representation, warranty or guaranty as to accuracy of any information contained herein. You should consult your advisors for an independent verification of any properties.
 

Copyright © 2020 My Florida Regional MLS DBA Stellar MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of My Florida Regional MLS DBA Stellar MLS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Lafayette Realty Group LLC participates in the My Florida Regional MLS DBA Stellar MLS Internet Data Exchange (IDX) program, allowing display of other My Florida Regional MLS DBA Stellar MLS broker's listings on this site. However may not include all listings currently available. Information is deemed reliable but not guaranteed.

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