{"id":992,"date":"2025-05-14T08:18:15","date_gmt":"2025-05-14T08:18:15","guid":{"rendered":"https:\/\/northernwebdesign.co.uk\/BOR\/?page_id=992"},"modified":"2025-08-21T05:51:27","modified_gmt":"2025-08-21T05:51:27","slug":"faqs","status":"publish","type":"page","link":"https:\/\/northernwebdesign.co.uk\/BOR\/faqs\/","title":{"rendered":"FAQs"},"content":{"rendered":"\t\t
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Frequently asked questions\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Straightforward answers about how our Broker of Record model works \u2014 and what it doesn\u2019t do.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Frequently asked questions\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Straightforward answers about how our Broker of Record model works \u2014 and what it doesn\u2019t do.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Explore our FAQs<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Who is this service for? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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Institutional Broker of Record Services is designed for investment firms, operators, and real estate professionals conducting transactions in states where they are not licensed or do not have a physical presence.<\/p>

We support:<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tClients who need a Listing Broker of Record in turf states (where co-brokerage is not permitted)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tClients who need a co-broker agreement in cooperative states (we also manage required filings)<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t
  • \n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tClients in physical presence states, where we offer compliant representation through referral agreements<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tWhether you’re managing a single asset or a multi-state portfolio, we provide the legal infrastructure and compliance support to ensure a smooth, enforceable transaction.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Are your Broker of Record services legally compliant with state licensing laws? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    Yes. We hold active broker licenses and remain in good standing in every state we serve. Our agreements are structured to meet each state\u2019s regulatory requirements.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    What states are you licensed in? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    We currently offer services in 35 states, including:<\/strong>
    AL, AR, CA, CO, CT, FL, GA, IA, IL, IN, KS, MA, MD, ME, MI, NC, NY, NV, OH, OK, OR, SC, TN, TX, VT, VA, WI, and WA.<\/p>

    Need coverage elsewhere?<\/strong>
    We may be able to expand based on your needs.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    What are turf states (TS)? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    Turf states do not allow co-brokerage unless you hold a license in that state. In these jurisdictions, we must act as the sole listing agent and handle all licensed duties. Your role is limited to a referral capacity.<\/p>

    Turf States:<\/strong>
    KY, MO, NE, NM, NJ, PA, and UT.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    What are physical presence states (PPS)? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    Physical presence states require the broker to maintain a local office or resident broker. In these states, we act as Broker of Record and you may participate only through a referral agreement.<\/p>

    Physical Presence States:<\/strong>
    AK, AR, CA, D.C, DE, FL, HI, ID, IA, IL, ME, MA, MI, MN, MT, NY, OK, TX, VT, VA, WV, and WI.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    What are cooperative states (CS)? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    Cooperative states permit out-of-state brokers to co-broker with a locally licensed firm. In these states, you can remain client-facing as a Listing Consultant or Asset Manager under our supervision. We handle required co-broker agreements and filings.<\/p>

    Cooperative States:<\/strong>
    AL, AZ, CO, CT, GA, IN, KS, LA, MD, MS, NC, ND, NH, NV, OH, OR, RI, SC, SD, TN, WA, and WY.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    Can I still be the listing agent? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    No. In states where you are not licensed, you may not act as the official listing agent of record. Institutional Broker of Record Services will be listed as the Broker and Agent of Record.<\/p>

    In cooperative states<\/strong> and physical presence states<\/strong>, you may be identified in marketing materials as a Listing Consultant, Asset Manager<\/strong>, or similar non-licensed role. You may fully participate in client communications, marketing coordination, and deal strategy, provided your activities comply with applicable state laws.

    In turf states<\/strong>, where co-brokerage is not permitted, you may not perform any licensed duties. Your role is limited to client support under a referral agreement, and all brokerage functions are handled by the Broker of Record.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    Who handles the transaction, and how am I able to stay involved? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    In cooperative<\/strong> and physical presence<\/strong> states, you handle the transaction directly \u2014 including client communication, negotiation, and execution \u2014 under our supervision through a formal agreement. This model complies with state law and allows your active participation while we ensure compliance and oversight.<\/p>

    In turf states<\/strong>, all licensed duties must be performed by the Broker of Record. You may not engage in any brokerage activity but may support the transaction as a referral partner or strategic advisor.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    Do you represent the buyer or seller? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    In cooperative<\/strong> and physical presence<\/strong> states, you represent the client directly under our supervision. We provide the compliance framework and remain in the background unless specifically authorized to assist.

    In turf states<\/strong>, all licensed representation must be conducted by the Broker of Record. Your involvement is limited to support or referral functions unless explicitly permitted by law.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    Do you offer buyer representation? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tYes. We provide limited buyer-side representation for institutional acquisitions, particularly for portfolio-level or investment-driven transactions. All services are coordinated under our Broker of Record structure and aligned with state compliance requirements.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Do you solicit my clients? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tNo. We uphold a strict non-solicitation policy. Your client relationships are fully protected and governed by our written agreements.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Can I still use my company\u2019s branding and marketing materials? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    Yes \u2014 with limitations. In cooperative<\/strong> and physical presence <\/strong> states, you may use your company\u2019s branding and marketing materials if they comply with local disclosure requirements. Our name must still appear as the licensed Broker of Record.

    In turf states<\/strong>, all marketing must originate from us and include only approved disclosures. Co-branding is not permitted in these jurisdictions.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    Do I need to disclose your name as Broker of Record? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tYes. In all states, our name must appear on advertising, contracts, and listing materials as the licensed Broker of Record. This is a legal requirement and applies regardless of your branding. We provide the required disclosures and review all materials to ensure full compliance.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    What does it cost to use your services? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tFees vary based on the state, asset type, and transaction complexity. All pricing is quoted confidentially and outlined in writing prior to engagement.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    How are commissions handled? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tCommission structures are agreed upon in advance based on your role and responsibilities in the transaction. All commissions are paid directly to Institutional Broker of Record Services and disbursed to the referring or participating party in accordance with our written agreement. This structure ensures full compliance with state regulations governing compensation and licensure.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Are there marketing fees? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tYes. We operate on a pass-through model: you pay only the actual costs of third-party marketing platforms (e.g., CoStar, LoopNet, Crexi). A 10% administrative processing fee is added to cover internal coordination and billing. If marketing assets are shared across multiple clients or listings, fees will be billed on a pro-rata basis. All marketing costs are billed monthly and due upon invoice.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Do you provide E&O insurance coverage? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tYes. All transactions conducted under our license are covered by our Errors & Omissions policy. Additional coverage can be discussed if necessary.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Do you provide local support or in-person services? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tNo. We do not offer in-person showings, site visits, or local representation. Our focus is legal brokerage oversight and administrative support.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Can my agents or team operate under your license? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tNo. Only individuals authorized through a written agreement with us may operate under our license. We do not extend licensure to outside agents, teams, or support staff not formally engaged through our Broker of Record model.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Can I co-brand marketing with your firm name? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    In cooperative<\/strong> and physical presence<\/strong> states, co-branding may be permitted with prior review. All materials must comply with advertising laws and include required disclosures showing Institutional Broker of Record Services as the licensed brokerage.<\/p>

    In turf states<\/strong>, co-branding is not allowed. All marketing must be conducted solely under our name using approved disclosures.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t

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    Is there a minimum number of deals required? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tNo. We work with professionals handling single transactions and those managing ongoing deal flow. There is no minimum to get started.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    How quickly can you process a new listing or deal? <\/div><\/span>\n\t\t\t\t\t\t\t\n\t\t\t<\/path><\/svg><\/span>\n\t\t\t<\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    \n\t\t\t\t\t\t\t\t\tOnce agreements are in place and documentation is submitted, we move quickly. Most transactions can begin within a short turnaround window.\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t