October 12, 2017, was an important day for the Community Enrichment Center (CEC) in Tarrant County. 四年后, 非营利组织, which provides resources for families in crises, finally closed on 50 condominium units in Hurst it had been pursuing since 2013.
This milestone for the CEC happened thanks to Heather Konopka-Chaves, CCIM, 他以高超的医术, 持久性, and passion helped the nonprofit overcome years of roadblocks so it can expand its housing options for Texas families facing violence, 贫困, 和无家可归.
Heather’s efforts also earned her the 2017威廉C. 詹宁斯奖 for outstanding commercial real estate transaction of the year.
It really is a relationship business
When Heather first spoke with Randy Clinton, CEC的总裁兼首席执行官, 他们没有谈论财产. Heather took her usual approach for expanding her network: developing a relationship by making an old-fashioned human connection.
在第一次谈话中, Clinton shared details about his role at the CEC and explained its mission. 希瑟对中央委员会很熟悉. Her two daughters volunteered with the nonprofit in the past. 她的母亲, who had passed away about two weeks before she first spoke with Clinton, benefited as a customer of the organization’s resale shop. And at that difficult moment in her life, Heather was happy to have that human connection with Clinton instead of talking shop. “Later, I wrote a handwritten note thanking Mr. Clinton for what he does and letting him know I’m a broker and I’m available if he needs anything,希瑟说.
A few weeks after she sent the note, Clinton called and asked for her help.
“Mr. Clinton expressed a need for growth since they wanted to expand their services in the Mid-Cities Region to serve more low-income families, 无家可归的人, 以及家庭暴力的受害者,希瑟说. “We discussed 50 units out of a 116-unit fractured condominium project that would fulfill their need.”
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The 116 units were built in 1984 as condominiums, and some units sold initially while the rest sat on the market. 最终, one owner purchased 50 units while other units remained owner-occupied, making the property a fractured condo project.
这50套房子现在正在出售, and under the direction of her new client, 希瑟寄来了意向书. “A letter of intent lets that seller know the buyer is interested, 命名价格, 保证金, 截止日期,希瑟解释道. “It stipulates the pertinent points that will go into a more detailed contract, 它通常是非约束性的.“但是寄完信以后, they soon discovered the owner of the 50 units had passed away without a will. The estate had to go through probate.
无回报的提供
Heather and her client waited six months while the probate process moved forward. At the direction of her client, she resubmitted a letter of intent on May 13, 2014. They heard nothing from the listing broker, who also owned the property management company managing the 50 units.
6月19日, 2014, Heather’s client directed her to send a contract with a copy of a $20,000 保证金 check to the owner’s spouse. 他们还是什么也没听到.
但希瑟不肯放弃. She continually contacted the listing broker until she finally heard from him that they were still in probate and would let her know when the property would be up for sale.
“Due to the nature of the CEC’s need for a property and their desire to purchase, we waited another year and eight months,希瑟说. 2016年3月, we received updated financials along with information that indicated the property could be coming to market. 我和董事会见了面 of the CEC and presented the numbers, 最新销售数据, 我们计划了方向.”
Again, she contacted the listing broker. 他们还是什么也没听到.
在另一个转折中, the probate process uncovered that the owner’s title was held with his ex-wife with whom he’d had multiple children. 他再婚了，有了更多的孩子. The owner’s ex-wife was the one who’d received the contract and copy of the 保证金 check in 2014, but she never entered into a contract.
A trustee was appointed, and Heather and her client waited another year.
四年后，好消息来了
3月12日, 2017, I received a full offering memorandum from the listing broker of the property indicating it was available for sale,希瑟说. “我联系了我的客户, and following nonprofit rules and regulations, 我和董事会见了面, 提供最新的销售数据, 然后对数据进行评估. The CEC determined the property still met their need and could fulfill their vision, so we submitted another letter of intent.”
In the four years since the process began, the market improved and property supply had decreased. Heather and her client now had to go head-to-head with multiple offers. She helped her client come up with their most competitive offer. “Successfully, my client and the sellers reached an agreement: $1.1 million above the original list price in 2013, and $100,000 in 保证金. 但是我们做到了!”
六月初, Heather received the first draft of a contract from the listing broker and spent the month negotiating. In early July, they executed a contract to purchase the 50 units.
More time, more money, and disrepair
The executed contract had a 21-day due diligence time frame. The sellers had three days to deliver due diligence materials, and for every day those items weren’t received, 时间框架被延长了. 到8月22日, 2017, we had not received all the due diligence items and submitted notification,希瑟说.
The HOA for the condo required that the resale certificates be paid for prior to delivery, 每件350美元. 买家同意出17美元,100美元中的500,000 保证金 on deposit at the title company for said resale certs, with an agreement they would be reimbursed out of seller’s proceeds at closing,希瑟说.
In addition to challenges obtaining due diligence materials, there were problems gaining access to some of the units. Numerous deferred maintenance items and foundation issues were also uncovered. And one unit was involved in a pending lawsuit with a unit that wasn’t part of the 50.
Instead of viewing it as a setback, Heather saw it as an opportunity. “In negotiating the repairs and issues we discovered, 我们达到了50美元,000英镑的降价, and all parties agreed to move towards closing,她说。.
Approximately four years and two weeks after Heather’s first discussion with Randy Clinton, 他们买下了那50套房子.
在交易过程中, I remained in contact with all parties, met numerous times with the CEC board, 不断跟进,她说。. She also took a lower fee as a donated portion of her commission to the CEC, her way of giving back.
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Heather stayed motivated despite the years of hurdles to close this deal. “I don’t let roadblocks hold me back, especially when I’m working on behalf of my clients,她说。. But she may also have been motivated by her old-fashioned human connection to an organization and people she’d spent four years getting to know; that had been there for her mother; that supports a cause she believes in.
不管她的动机是什么, Heather’s steadfast commitment to helping the CEC purchase the property it needed means there will be more safe housing and support for families in her Texas community.