Multifamily dispositions • Virginia & West Virginia
Selling multifamily property in Virginia and West Virginia.
Hundreds of leases, deposits, and prorations transfer with the deed, and the payoffs, the estoppels, and the proceeds all have to land together. Prime Title & Escrow provides independent, attorney-led title and settlement for multifamily dispositions across Virginia and West Virginia.
Ready to start?
Have these ready
- Your existing loan and payoff details
- Your entity's formation and authority documents
- Your rent roll, leases, and deposit ledger
- Any prior title policy or survey
Planning a 1031 exchange? Tell us early so we can protect your deadlines.
What is your role in the transaction?
Tell us where you sit in the deal.
Select your role to see the closing risks, responsibilities, and outcomes that matter most to your team. The rest of the page applies to every multifamily sale.
Hand off the community without dropping a lease.
You are selling a community you operate, and everything transfers at the table: every lease, every deposit, every proration, along with the payoff, the releases, and the management handoff. Prime runs the title and settlement side so the closing lands on schedule and the record closes clean behind you.
What matters to you
- Marketable title, confirmed early
- Rents, deposits, and prorations handled on the statement
- Your loan payoff, exact to the day
- Estoppels coordinated with your manager
- Seller-side taxes and costs, explained
- Net proceeds delivered securely
The exit is where the return gets real.
A multifamily buyer buys the income, then checks it against the record: recorded options, affordability covenants, easements, and the liens renovation work leaves behind. The seller who pulls the record first answers from documents and keeps the price attached to the facts, including when a 1031 exchange clock is running.
What matters to you
- Marketable title before the buyer's diligence finds a problem
- Recorded options and covenants surfaced early
- Tenant estoppels across the rent roll
- Loan payoff figures and lien releases
- 1031 exchange timing and proceeds control
- Net proceeds, wired securely
Institutional dispositions, run on institutional controls.
A stabilized community sells at institutional scale, with fund approvals, agency or bank debt mechanics, estoppels across a full rent roll, and proceeds that have to land exactly where the waterfall says they land. Prime runs the sell side through one repeatable process built for large files.
What matters to you
- Repeatable closing controls across assets
- Entity and fund authority documentation
- Agency and bank payoff or assumption coordination
- Estoppel and SNDA coordination at scale
- Cross-collateralization and partial releases
- Documented, verified disbursement
Divest the portfolio with the deal, not after it.
When apartment communities sell as part of a divestiture, restructuring, or sale of the company, the deeds, assignments, consents, debt releases, and entity steps have to line up with the corporate closing. The structure decides the paperwork, and Prime coordinates the real estate side with deal counsel so the portfolio keeps pace with the deal.
What matters to you
- Asset sale versus equity sale mechanics
- Property schedules across the portfolio
- Lender and agency consents
- Change-of-control provisions
- Debt releases tied to the corporate closing
- Coordinated closing dates
The number that matters is the one that hits the account.
Between the contract price and the wire, there are payoffs, taxes, prorations, fees, and a settlement statement that has to be right. Prime gives you a clear view of the figures, the deadlines, and the funding path, and protects the proceeds with verified disbursement procedures.
What matters to you
- Net proceeds, modeled before closing week
- Payoffs, taxes, and prorations accounted for
- Material risks surfaced early
- Fraud-protected disbursement
- Named accountability and escalation
- A settlement statement you can take to the board
Payoffs, estoppels, deposits, recording. One tracked list.
Prime works alongside counsel, brokers, lenders, and asset managers on the sell side without duplicating their work. We manage the title commitment review, curative items, payoff letters, releases, estoppel tracking across the rent roll, deposits and prorations on the statement, escrow, funding, and recording.
What matters to you
- Title exceptions and curative items
- Payoff letters and lien releases
- Estoppel and SNDA tracking
- Rents, deposits, and prorations on the statement
- Entity authority and resolutions
- Settlement statement and disbursement
- Recording and post-closing deliverables
The record the buyer will read
The rent roll is the product. The record has to match it.
A multifamily buyer buys the income, then checks it against the record: recorded leases and options, affordability covenants that bind rents, easements across the site, and the liens renovation work leaves behind. The seller who pulls that record early answers from documents instead of losing weeks of the diligence clock.
Lease audits and condition are the buyer's work. Ours is your side of the table: a clean commitment, payoffs and releases in writing, estoppels tracked across the rent roll, deposits and prorations right on the statement, and the proceeds delivered under verified instructions.
On a multifamily sale, we handle
- Title work and the exception list, surfaced early
- Loan payoff letters, or the assumption checklist
- Lien releases tracked to recording
- Estoppels tracked across the rent roll
- Rents, deposits, and prorations on the statement
- Entity authority and resolutions
- Seller-side taxes on the settlement statement
- Verified, documented disbursement
The market you are selling into
A third of America rents. Your buyer knows it too.
More than a third of US households rent, and the share never returned to its pre-2008 level. Deep demand keeps buyers coming, and the sale still has to transfer hundreds of leases clean.
A nation of renters
Share of US households that rent their home
About 35% of US households rent, and multifamily is where that demand lives.
U.S. Census Bureau, 2025
Renting reset higher
Share of US households that rent, 2004 to 2025
Renting climbed after 2008 and never went back, keeping long-run demand under apartments.
U.S. Census Bureau
What recording the deed costs
Virginia recording taxes, per $100 of price
On a $10,000,000 purchase: about $25,000 state (buyer), about $8,300 local, and $10,000 grantor's tax (seller). Northern Virginia localities add regional fees on top.
Code of Virginia 58.1-801, 58.1-814, 58.1-802
Challenges, and how we clear them
What multifamily sellers run into, and what we do about it.
Estoppels across the rent roll
The contract and the buyer's lender will want estoppels from the tenants, and collecting them across a full community is a project with a deadline attached.
How we help: we build the tracking list from the rent roll, coordinate with your manager, and confirm delivery through the escrow before funding.
Deposits and prorations
Security deposits transfer as a credit and rents prorate to the day, and done wrong, the handoff turns into disputes after closing.
How we help: we handle both on the settlement statement, documented, so day one is clean for the buyer and closed for you.
Recorded covenants the buyer will find
Affordability covenants and recorded options bind rents and transfers, and they surface in the buyer's title work whether or not anyone mentions them.
How we help: we pull every recorded covenant early and put it in front of your counsel and the buyer's team on your schedule, not theirs.
Payoff, assumption, or agency consent
Existing debt may be paid off, assumed, or moved with a lender's consent, and each path carries its own requirements and timeline.
How we help: we obtain payoff and release requirements in writing, or work the assumption checklist, and build them into the closing.
Liens from renovation work
Value-add work leaves contractor liens and financing statements sitting on the record long after they were satisfied.
How we help: we chase the releases and curative documents so the commitment comes back clean.
Proceeds at closing
A large disbursement is a fraud target, and attempted wire fraud shows up in roughly one of every three deals.
How we help: we verify instructions by phone with a known contact, document the disbursement, and move funds only when the conditions are met.
The risk we manage
The work that protects a sale before it ever closes.
$600B+
in risk the title industry clears for buyers and lenders each year
ALTA, 2026
Nearly 60%
of transactions need three to five title issues resolved before closing
ALTA, 2026
1 in 3
real estate deals face an attempted wire fraud
ALTA survey
$150K to $200K
average wire fraud loss, and commercial deals run higher
ALTA / Stewart
Prime clears this work before your sale reaches the closing table.
What Prime handles
Commercial title and settlement, from opening through recording.
- Title search and commitment
- ALTA survey coordination
- Exception and requirement tracking
- Easement and access review
- Entity and signing authority
- Escrow deposit management
- Lender coordination
- Payoff and release coordination
- Closing statements
- Secure funding
- Document recording
- Final title-policy issuance
How your sale closes
Five steps, handled with care from payoff to proceeds.
1
Open and order
Send us your loan details and entity documents. We open the file and order the title search and payoffs.
2
Payoffs and title
We request payoff statements from every lender and confirm what the title search shows.
3
Curative and leases
We clear liens and defects, secure releases, confirm your authority to sell, and square leases and prorations.
4
Coordinate the close
We align with the buyer's side, lender, and any intermediary, and confirm the figures and the Virginia grantor's tax.
5
Fund and disburse
We collect and verify the funds, record the deed and releases, and deliver your net proceeds safely.
Personalized to your seat
What this means for your team.
A clean handoff:
The loan paid, the liens released, the proceeds delivered, and the business undisturbed.
Better exit visibility:
Know the title, payoff, and tenant items that can affect proceeds and timing before the buyer does.
Controlled dispositions:
Consistent title, escrow, approval, and reporting procedures on every asset you sell.
Transaction alignment:
The real estate transfer sequenced with the wider divestiture or sale of the company.
Decision-ready figures:
Payoffs, taxes, costs, and net proceeds laid out clearly before closing week.
Cleaner coordination:
Payoffs, releases, estoppels, escrow, and recording tracked through one process.
Why buyers choose Prime
Local knowledge, legal judgment, and no divided loyalty.
Local to Data Center Alley
Based in Leesburg, in the heart of Loudoun County, we know Virginia's commercial market and its closings firsthand.
Attorney-led
Real estate attorneys oversee your file, so complex title and structure questions get legal judgment, not guesswork.
Independent and neutral
No affiliated arrangements and no divided loyalty. Our only focus is your transaction and a clean close.
Funds protected
Secure escrow and verified instructions guard the large wires that commercial deals depend on.
Commercial seller questions
What Virginia commercial sellers ask us.
Who pays Virginia's grantor's tax on a commercial sale?
The seller, as grantor, pays the grantor's tax, set at $0.50 per $500 of value, and in Northern Virginia the grantor also pays regional fees such as the WMATA capital fee and the regional congestion relief fee. The buyer separately pays the recordation tax on the deed. We calculate your exact amounts for the jurisdiction where the property sits.
How do you handle my existing loans and lien releases?
We request payoff statements from each lender, pay them from your proceeds at closing, and secure the releases so the loans come off title cleanly. If older liens or unreleased deeds of trust are still on record, we work to clear those too.
Can you close a sale held in an LLC, partnership, or trust?
Yes. We confirm the entity's authority to sell, prepare the resolutions and documents the structure requires, and handle out-of-state entity questions with your counsel so authority is settled before closing.
The buyer wants estoppels from every tenant. Is that realistic?
It is a project, and it is manageable. We build the tracking list from the rent roll, coordinate with the manager collecting them, and confirm delivery through the escrow, so the requirement is documented before funding instead of discovered at the deadline.
The property is leased. How are tenants and prorations handled?
We coordinate the assignment of leases, prorate rent and operating expenses as of the closing date, and account for security deposits, so the buyer steps into a clean set of tenant obligations.
Can you handle a 1031 exchange on the sale?
Yes. We coordinate with your qualified intermediary and structure the closing to fit the exchange, with attention to your identification and closing deadlines so the timeline holds.
How do you protect my proceeds from wire fraud?
We verify your payout instructions, confirm them with you by phone, and will never change them based on an email alone. Before your proceeds move, call our office to confirm the details.
Do you work with our broker, lender, and attorneys?
Yes. We coordinate with every party in the deal, keep the title and escrow side on schedule, and make sure each requirement is met before closing day.
Role-specific questions
Questions from your seat at the table.
We manage the community ourselves. What does the handoff look like?
Security deposits transfer as a credit, rents prorate to the closing date, and both are documented on the settlement statement, so the buyer's management starts clean and your books close clean.
What do you need from us to get started?
Your entity documents and authority to sell, your loan and payoff contacts, any existing title policy or survey, and the contract or letter of intent, plus the rent roll for the estoppel work. From there we open title and build the payoff and release list.
We are selling into a 1031 exchange. What changes at closing?
The proceeds cannot touch your hands. We coordinate with your qualified intermediary so the exchange funds move under the exchange documents, and we keep the closing aligned with your deadlines. Your tax advisor and intermediary drive the exchange itself.
The buyer's diligence found a title exception. Now what?
We deal with it. Some exceptions clear with a payoff or a release, some are corrected with curative documents, and some can be addressed through the title insurer or by agreement. We tell you which path each item takes and what it means for the timeline.
Can you run one process across multiple dispositions?
Yes. The same escrow instructions, authority checklists, settlement statement format, and reporting apply to each asset, so your team reviews familiar documents instead of relearning a process per closing.
How is the payoff handled when debt crosses several properties?
Cross-collateralized loans need the lender's partial release terms confirmed early. We obtain the payoff and release requirements in writing and build them into the settlement so the lien clears the property you are selling.
The communities sell with the platform. Do we still need a real estate closing?
If the entity that owns the real estate is what transfers, the deed may stay put while the entity changes hands; if assets transfer, deeds and assignments move the property. Either way, title, liens, and authority still have to be confirmed, and we coordinate that with deal counsel.
Can the property closings match the corporate signing date?
We sequence title, escrow, funding, and recording to the deal calendar and flag the dependencies, like lender releases and third-party consents, that sit outside our control.
When do we see the net proceeds figure?
Early, and then again as the real numbers land. We circulate the settlement statement ahead of closing with payoffs, taxes, prorations, and fees itemized, so the final wire is a confirmation, not a reveal.
How are the proceeds protected?
Disbursement instructions are verified by phone with a known contact, never changed on an email alone, and funds move only when the closing conditions are met and documented.
Who assembles payoff letters and releases?
We do. We request payoff letters directly from each lienholder, confirm per-diem figures through the closing date, and track every release to recording so the record closes clean behind the sale.
How do you handle estoppels and lease deliverables?
We track them on the open-items list with the rest of the closing conditions and coordinate with the broker and asset manager collecting them, so the escrow can confirm delivery before funding.
Hand off the community without dropping a lease.
Tell us the closing date the contract sets, who holds the loan, and who manages the property.
Close the exit on your timeline.
Send Prime the contract, the loan and tenant details, and any exchange deadlines in play.
Standardize the disposition process.
Bring title, entity, escrow, and reporting for every sale through one attorney-led team.
Align the sale with the corporate closing.
Tell us how the communities fit into the divestiture, restructuring, or sale of the company.
See the net number before closing week.
Prime can lay out the payoffs, taxes, costs, and expected proceeds ahead of the wire.
Put the sell-side file in motion.
Send the contract, entity documents, loan contacts, and target closing date.
(703) 552-4155
118 Edwards Ferry Rd NE, Unit 210, Leesburg, VA 20176