Most of our buyers are not market-timers. They have large portfolios and purchase in high and low markets and therefore allowing the price to average out over time. With a large portfolio, you don’t have to be a market-timer. Some will purchase 100 units and larger. Some have no interest unless the value is in the high multi- millions of dollars. Some have purchased large portfolios containing thousands of units. Some are willing to purchase in tougher markets and their management teams are accustomed to these markets. Some are totally fine with major rehab and some are not. Most all have legal teams that specialize in the affordable housing market and are skilled in solving issues with HUD as they arise.

The result is a much quicker closing primarily due to no contingencies for financing. I have seen these closings go beyond a year. Our contingency periods are normally very short and may include the release of security deposits. Cooperation and mutual respect are favorites for quick closings.

From our experience, sellers prefer not to broadcast their sales. They dislike people roaming their property without an appointment. Most prefer a controlled professional profile for the sale. That is our preference as well.