Page 128 - Guardian Broker Questionnaire Summary Complete Package 2 2 22_Neat

a property with additional expense related to the affordability of the property. The
current operations are in-line with expectations and similar assets we have evaluated.

7) Any challenges or additional information/materials which could speed up or assist in the
sales process.

• C&W puts a lot of work and analysis on the front end of a process so that if we are
selected to work with UMFS and 7 Hills Advisors we can be in the market in 24-48
hours if needed. If there is any professional photography of the asset that has
been done we can put a marketing flyer together in 1 business day. Nothing in our
research indicated the properties would have to remain age restricted after the
affordability periods expire but confirming there are no deed restrictions would be
important as well.

8) Current market conditions and challenges-velocity of deals you anticipate.
• The only challenge in the market is the near term volatility of the financing markets.
This is mitigated in high-growth markets like Richmond where there is more capital
to purchase assets than assets for sale.

9) Timing-how long to market and find buyer if priced to sell.

• The total time between marketing and selecting a buyer is typically 7-8 weeks. This is
broken down as 5 weeks marketing/touring the property until initial offers. 1 week
between initial offers and best & final offers. 3-7 days between best and final offers
and buyer interviews. 3-7 days between buyer interviews and selecting a buyer. C&W
can expedite the process to meet the timing needs of UMFS accordingly.

10) Fee/commission structure
• We are comfortable with a variety of commission structures including a fixed
percentage of the total sales price or incentivized structure with a larger
percentage over a pricing target. For a fixed percentage we would propose 1.5%
of the total sales price. If you would prefer an incentivized structure we can
discuss what that would be.

11) Communication is critical with this ownership. Please note how often you intend to provide
activity and market updates.

• Our team is available 24 hours a day, 7 days a week should anyone at UMFS or 7
Hills Advisors have questions during any stage of the sale process (marketing,
negotiating, due diligence, closing). During marketing our team provides a weekly
marketing report which includes the date e-blast campaigns were launched, high
level statistics of e-blast campaigns (emails opened, page views, unique investors),
the amount of investors who have signed confidentiality agreements, the amount
of tours that have been conducted or scheduled (including how many occurred on
each day), and the names and companies of every investor we are speaking with.
At the discretion of UMFS and 7 Hills Advisors we can also schedule a recurring
weekly call to discuss the progress of marketing, tours that occurred that week and
answer any questions. Some clients prefer a weekly email with this information
along with the marketing report in lieu of a call. We are comfortable in either
scenario.