Affordable Housing Real Estate Services

Background

The City of Carlsbad is seeking proposals from qualified individuals or firms to provide real estate services for the sale of city-owned, below market rate housing units. The goal is to assist with the entire sales transaction of deed-restricted affordable housing units, including screening potential buyers and providing escrow services. The initial contract is anticipated to begin in January 2027 and extend for one year, with options to renew for three additional one-year terms.

Work Details

The selected vendor will provide comprehensive real estate services, which include:

1) Real Estate Broker Services

Representing the City in transactions, facilitating due diligence inspections, advising on issues between interested parties and the City, adhering to all relevant laws, and performing other customary duties.

2) Program Application Underwriter

Assisting in executing procedures for selling new affordable housing units, including marketing efforts, verifying applications for completeness and eligibility, coordinating purchase and sales documents, ensuring compliance with guidelines, and preparing loan documents.

3) Escrow Services

Preparing necessary reports and documentation to close escrow, ensuring all conditions are met before closing, coordinating with all parties involved in the transaction, and preparing required documents such as demands and releases of liens.

Period of Performance

The contract will commence in January 2027 for a one-year term with options to renew for three additional one-year terms.

Place of Performance

The services will be performed within the City of Carlsbad, California.

Bidder Requirements

Proposals must demonstrate qualifications in providing similar services. Bidders should have experience in marketing and selling homes within Carlsbad, participation in the Multiple Listing Service (MLS), relevant licenses or certifications required by California state law, experience with HUD programs or local affordable housing programs, and experience in selling market rate homes. Use of subcontractors is permitted but must be clearly identified.