GUADALUPE INFILL STRIP AUSTIN, TX
PRICING & FINANCIAL ANALYSIS
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
Guadalupe Infill Strip 3711 Guadalupe St Austin, TX 78705
Offering Summary Price Net Operating Income Price PSF Occupancy Year Built Lot Size
$41,147 $408.42 100% 1962 4,040 SF
PROPERTY DESCRIPTION
Gross Leasable Area
$1,650,000
0.29 Acres
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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PRICING & FINANCIAL ANALYSIS
GUADALUPE INFILL STRIP
Base Rent - Occupied Space
Current 100%
GROSS POTENTIAL RENT
PSF
Expenses
Current
PSF
$48,000
$11.88
Real Estate Taxes
$26,576
$6.58
$48,000
$11.88
Insurance
$2,689
$0.67
CAM
$2,672
$0.66
Expense Reimbursements $0.00
$0.00
Pest Control
$1,736
$0.43
Management Fee Recoveries
$0.00
$0.00
RE Commissions
$936
$0.23
Insurance Recoveries
$0.00
$0.00
Management Fee (% of GPI)
$1,492
$0.37
Real Estate Tax Recoveries
$26,576
$6.58
Total Expenses
$33,429
$8.27
Total Expense Reimbursements
$26,576
$6.58
EFFECTIVE GROSS REVENUE
$74,576
$18.46
$2,672
$0.66
$1,492
$0.37
$2,689
$0.67
$26,576
$6.58
$33,429
$8.27
$41,147
$10.18
2.00%
PROPERTY DESCRIPTION
CAM Recoveries
FINANCIAL ANALYSIS
Projected Income & Expenses
Operating Expenses Total CAM Management Fee Total Insurance Total Real Estate Taxes Total Recoverable Expenses Net Operating Income
2.00%
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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RENT ROLL
GUADALUPE INFILL STRIP
Lease Dates
Minimum Rent
Recoveries
Total
Suite
Sq Ft
% of Sq Ft
Start
End
Annual
Monthly
PSF
Annual
PSF
Revenue
Gatti's Pizza
1
2,040
50.50%
10/05
12/18
$22,800
$1,900
$11.18
$10,631
$5.21
$33,431
44.83%
Good Luck Food Mart
2
2,000
49.50%
01/65
10/20
$25,200
$2,100
$12.60
$15,946
$7.97
$41,146
55.17%
Total Count/GLA
2
4,040
100%
$74,576
100.00%
Occupied
2
4,040
100.0%
Available
0
0
0.0%
$11.88
4,040
100.0%
Tenant
$26,576
% of
Revenue
PROPERTY DESCRIPTION
Total Avg Rent
$48,000
FINANCIAL ANALYSIS
RENT ROLL
ESTIMATED REIMBURSEMENT REVENUE CAM
Management Fee
Insurance
Real Estate Taxes
Total Recovery
Sq Ft
% of Sq Ft
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Monthly
PSF
Gatti's Pizza
1
2,040
50.50%
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$886
$2.63
$886
$5.21
Good Luck Food Mart
2
2,000
49.50%
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$1,329
$3.95
$1,329
$7.97
4,040
100%
$0.00
Totals
$0.00
$0.00
$2,215
MARKET OVERVIEW
Suite
Tenant
$2,215
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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LEASE PROVISIONS
GUADALUPE INFILL STRIP
Tenant
Renewal Options
User Restrictions & Exclusive uses
Termination Rights
Sales Reporting
Sq Ft
Date
PSF
Gatti's Pizza
1
2,040
-
-
None
-
-
-
Good Luck Food Mart
2
2,000
-
-
None
-
-
-
Totals
#
##,###
PROPERTY DESCRIPTION
Suite
FINANCIAL ANALYSIS
Base Rental Increases
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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TENANT INFORMATION
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
Tenant Summary Company Ownership Entity on Lease Number of Locations Years In Business Headquarters Website
PROPERTY DESCRIPTION
Gatti’s Pizza (formerly known as Mr. Gatti’s) is a Southeastern United States pizza-buffet chain. It was founded in 1964 and is owned by Blue Sage capital, a private equity firm. The chain currently has over 140 locations, although some are branded under the GattiTown name. The GattiTown locations are based on the Family Entertainment Concept (FEC) with a larger physical footprint and a dedicated gaming and attraction based midway.
Gatti’s Pizza Corporate Mr. Gatti’s, Inc. 140+ 54 Years Austin, TX www.gattispizza.com
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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INVESTMENT HIGHLIGHTS
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
• Below Market Rents: The average rental rate at Guadalupe Infill Strip is only $11.89 psf, while likekind product in the immediate trade area is leasing from $25.00 to $38.00 psf. • Rare Infill Asset: This is a high pride of ownership location. The Property is situated on the hard corner of Guadalupe St and E 38th St., less than 1 mile from the University of Texas campus.
PROPERTY DESCRIPTION
• Great Redevelopment Opportunity: Gatti’s Pizza’s lease expires in 2018 and Good Luck Food Mart’s lease expires in 2020. This is a great opportunity for a new owner to repurpose the spaces and bring rents up to market. • High Traffic Corridor: The Property is located just down Guadalupe St from the main retail hub for the University of Texas known as The Drag. Between Guadalupe St and E 38th St., more than 60,000 vehicles pass the Property daily. • Access and Visibility: The Property is located at the lighted intersection of Guadalupe St and E 38th St. and has direct points of entry from both streets.
MARKET OVERVIEW
• Tremendous Trade Area with High Growth: The population within a three mile radius of the Property has grown by 22.37% since 2010, and it is expected to continue to grow an additional 11.03% over the next five years. Within a three mile radius of the Property there are 158,529 residents increasing to an astounding 381,289 residents within five miles. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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INVESTMENT HIGHLIGHTS - THE UNIVERSITY OF TEXAS AT AUSTIN
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
• Property is located 1.1 miles away from campus on Guadalupe St • Over 51,000 undergraduate and graduate students are enrolled • The Austin campus has over 24,000 faculty and staff
PROPERTY DESCRIPTION
• Over 200 sporting events are held each year, attracting over 860,000 visitors a year • The University of Texas was established in 1883 and now has over 450,000 alumni • UT is a Public Ivy school and consistently ranks in the country’s Top 20 Public Universities
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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SITE PLAN
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS PROPERTY DESCRIPTION
3711
3713
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
MARKET OVERVIEW
Good Luck Food Mart
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AERIAL MAP
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
Downtown Austin
PROPERTY DESCRIPTION
28,225 VPD
St e Gu
ad
al
up
MARKET OVERVIEW
t W 38th S
26,340 VPD
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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RETAIL AERIAL MAP
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
Gu
ad alu p
eS t
SITE
5 minutes 1.1 miles
The Drag
Lam
ar B
lvd
PROPERTY DESCRIPTION
Mar
tin L
uthe
g Jr
Blvd
MARKET OVERVIEW
15th
r Kin
St
Downtown Austin Texas State Capitol
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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LEASE COMPARABLES
GLA
Yr Built/ Renovated Occupancy
Major Tenants
Available SF
Rental Rates
NNN
4,040
1962
100.0%
Gatti's Pizza, Good Luck Food Mart
0
$11.00 - $13.00
$6.00
2915 Guadalupe St Austin, TX
5,130
1965
100.0%
The Halal Guys, I Luv Vintage
0
$34.00-$38.00
$7.84
Pecan Plaza 2 3706 Guadalupe St Austin, TX
5,760
2005
100.0%
Starbucks, Little Caesar's Pizza, Yaya Café, Speedy Cash Loans
0
$30.00 - $35.00
$12.00
3
3701 Guadalupe St Austin, TX
6,991
1976
85.3%
Domino's, Walgreens Pharmacy, Root Dentistry, Body Brite
1,025
$26.00 - $29.00
$12.50
4
3204 Guadalupe St Austin, TX
7,139
1920
100.0%
ThunderCloud Subs, Zig Zag Salon, Bicycle Sport Shop
0
$24.00 - $27.00
$10.00
Guadalupe 34 5 3401 Guadalupe St Austin, TX
15,090
1949 / 1985
100.0%
Anytime Fitness, L7 Salon, Brazilia Spa, Agave Properties
0
$20.00 - $25.00
$7.00
1
PROPERTY DESCRIPTION
Guadalupe Infill Strip 3711 Guadalupe St Austin, TX
FINANCIAL ANALYSIS
Property
GUADALUPE INFILL STRIP
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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LEASE COMPARABLES MAP
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS
Guadalupe Infill Strip 1
2915 Guadalupe St
2
Pecan Plaza
3
3701 Guadalupe St
4
3204 Guadalupe St
5
Guadalupe 34
2 3
5 4
PROPERTY DESCRIPTION
1
MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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LOCAL MAP
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE
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REGIONAL MAP
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS PROPERTY DESCRIPTION MARKET OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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MARKET SUMMARY
GUADALUPE INFILL STRIP
FINANCIAL ANALYSIS PROPERTY DESCRIPTION
AUSTIN, TX
Austin is considered to be a major center for high tech. The region’s rapid growth has led Forbes to rank the Austin metropolitan area #1 among all big cities for jobs for 2012 in their annual survey. The Wall Street Journal Marketwatch ranked the area Number One for growing businesses. By 2013, Austin ranked No. 14 on Forbes’ list of the Best Places for Business and Careers (directly below Dallas, No. 13 on the list). As a result of the high concentration of high-
tech companies in the region, Austin was strongly affected by the dot-com boom in the late 1990s and subsequent bust. Austin’s largest employers include the Austin Independent School District, the City of Austin, Dell, the U.S. Federal Government, Freescale Semiconductor (spun off from Motorola in 2004), IBM, St. David’s Healthcare Partnership, Seton Family of Hospitals, the State of Texas, the Texas State University, and the University of Texas at Austin. Other high-tech companies with operations in Austin include 3M, Apple, Hewlett-Packard, Google, Qualcomm, Inc., AMD, Applied Materials, Cirrus Logic, ARM Holdings, Cisco Systems, Electronic Arts, Flextronics, Facebook, eBay/PayPal, Bioware, Blizzard Entertainment, Hoover’s, Intel Corporation, National Instruments, Rackspace, RetailMeNot, Rooster Teeth, Spansion, Buffalo Technology, Silicon Laboratories, Xerox, Oracle, Hostgator, Samsung Group, HomeAway, and United Devices.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
MARKET OVERVIEW
Austin, Texas is the capital of Texas and the seat of Travis County. Located in Central Texas, Austin is the 11th-most populous city in the United States and the fourth-most populous city in Texas. It was the third-fastest-growing large city in the nation from 2000 to 2006. Austin is also the second largest state capital in the United States. Austin had a July 1, 2013 population of 885,400 (U.S. Census Bureau estimate). The city is the cultural and economic center of the Austin–Round Rock metropolitan area, which had an estimated population of 1,883,051 as of July 1, 2013.
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DEMOGRAPHIC STATISTICS
GUADALUPE INFILL STRIP
1 Mile
3 Mile
5 Mile
2022 Projection 2017 Estimate 2010 Census Growth 2017-2022 Growth 2010-2017 2017 Population Hispanic Origin
29,772 26,898 22,986 10.68% 17.02% 3,319
176,017 158,529 129,544 11.03% 22.37% 33,430
423,441 381,289 314,983 11.06% 21.05% 128,999
White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces:
22,275 597 102 3,166 25 734 3
128,555 11,265 1,386 13,236 113 3,974 72
308,509 35,771 5,260 22,497 320 8,931 148
14,633 13,240 11,403 10.52% 16.11% 2,737 10,503 $65,690 $36,212
78,262 70,205 56,628 11.48% 23.98% 25,732 44,474 $92,818 $60,358
179,959 161,882 133,472 11.17% 21.29% 62,254 99,627 $88,003 $56,690
5,281 2,526 1,677 1,061 710 440 678 868
17,578 13,110 10,275 7,310 4,960 3,458 5,039 8,475
38,754 34,848 25,150 17,210 11,143 7,436 10,141 17,199
FINANCIAL ANALYSIS
Radius Population:
2017 Population by Race:
2022 Projection 2017 Estimate 2010 Census Growth 2017 - 2022 Growth 2010 - 2017 Owner Occupied Renter Occupied 2017 Avg Household Income (National Avg - $75,558) 2017 Med Household Income (National Med - $53,889)
2017 Households by Household Inc:
MARKET OVERVIEW
<$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+
PROPERTY DESCRIPTION
Households:
Demographic data © CoStar 2017 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. © 2017 STRIVE
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CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenantâ&#x20AC;&#x2122;s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.
Commercial Disclaimer STRIVE hereby advises all prospective purchasers of commercial property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a commercial property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. STRIVE expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a commercial property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any commercial property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.
Information About Brokerage Services
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. • A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker. A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent. AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent. AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. • Must not, unless specifically authorized in writing to do so by the party, disclose: ӽӽ that the owner will accept a price less than the written asking price; ӽӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law. AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first. TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement. • Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated. LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Regulated by the Texas Real Estate Commission
Information available at www.trec.texas.gov IABS 1-0
exclusively listed 469.844.8880 | STRIVERE.COM