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Tenant Opportunity to Purchase Act (TOPA)

Tenant Opportunity to Purchase Act (TOPA)

TOPA Overview

topa

Risk, Time, Money & TOPA

Whether negotiating vacate agreements, 70% Voluntary Agreements, redevelopment agreements, or the execution of Tenant Opportunity to Purchase Act (TOPA) affidavits, The Zupancic Group’s proven strategies for working with tenants helps ensure that all parties arrive at a mutually beneficial agreement.

Our aggressive and hands-on approach assists our clients in uncovering potential deal pitfalls and mitigates risks in the transaction process, which results in superior outcomes for our clients.

Track Record

The Zupancic Group has an immaculate, 100% positive track record in issuing TOPA, and gaining clear title and title insurance with no exception to TOPA in close to 200 TOPA transactions. We are the only team specializing in multifamily brokerage in the District of Columbia with that record.

Great Lengths & Attention to Detail

The Zupancic Group goes to great lengths in order to ensure that the title underwriter is comfortable and confident in the fact that the TOPA process was not only executed correctly, but that the process was documented in extreme detail. The Zupancic Group handles every single aspect of the TOPA process from start to finish for the owner, saving legal fees and ensuring that they can sleep well knowing that experts that demand accuracy are in control. For instance, The Zupancic Group hand delivers the TOPA Offer of Sale to DHCD, makes them stamp each and every page, front and back, so that there is never a way for anybody to claim later that it was not turned in, or a page was missing. In addition, our team films ourselves hanging the TOPA Offer of Sale in the subject property via digital video with time, date and geo-location stamping. We then take digital photos with the same date, time and geo-location stamping from close-up, far away, different angles to ensure that there is adequate context for the title underwriter to feel 100% certain that TOPA was issued correctly on the date and time that is indicated on the TOPA forms.

Title Insurance

The ultimate goal of The Zupancic Group is to provide the Seller with the ability to provide the Buyer with clear, insurable title, with no exceptions to TOPA in the title policy. Without clear title, the Buyer is not required to close the transaction, and the Seller will not receive their proceeds via wire or check.

Expertise & Experience in TOPA

The Zupancic Group proactively and meticulously manages each step of the TOPA process for our clients, ensuring all deadlines are met and all parties are kept up to speed throughout the process. Having long term experience in negotiating many DC multifamily transactions subject to TOPA, our team provides clients with a streamlined process that compresses timeframes, navigates obstacles, and better ensures a positive outcome for all parties involved, which equates to risk for the Seller, who is ultimately responsible for ensuring that the TOPA process was executed properly in the eyes of DC law.

Contact

Reach out to discuss how we can provide clarity and help you navigate your current situation.

Contact (Expertise & Services)