After you speak with us to determine whether or not defeasance can help you or your borrower client get the most out of a property, we will send a proposal letter that details our services and provides an estimate of all costs. This estimate will include the cost of the securities portfolio, third party transaction fees, and our own advisory fee. In addition, we will estimate the value that could be created by the Successor Borrower and discuss how you can receive a Defeasance Refund™ payment. We will also discuss what documents and other preparation will be needed to ensure a hassle-free defeasance, such as readying the servicer notification letter and compiling borrower organizational documents. Learn more about the main defeasance documents that will be used to complete the transaction.
Once you select Capital Defeasance Group, we will make sure to learn your goals for the defeasance and understand the timing of your sale or refinancing. We understand that coordinating the defeasance with your overall transaction is essential for your success, and we are ready to work with you right away to kick off the process.
Following is a form Borrower Checklist showing the steps you will go through in your defeasance transaction:
1. Notice to servicer of intent to defease
2. Payment of deposit to servicer for fees/counsel
3. Kick-off call with servicer/servicer counsel
4. Gather required borrower documents
5. Review defeasance documents and provide any comments
6. Revew and finalize defeasance documents
7. Review required borrower opinions
8. Execute defeasance documents/ borrower documents
9. Review draft closing statement
10. Authorize purchase of defeasance collateral securities (day 1 of closing)
11. Close defeasance simultaneously with sale or refinancing transaction (day 3 of closing)
Call us at 866.333.3273 to discuss your loan with a defeasance expert, or have us contact you.
