✓ DEAL CLOSED — April 30, 2026

Point of Americas Units 1801-2 — Deal Closed

2100 S Ocean Lane, Fort Lauderdale FL 33316

3 BD / 3.5 BA • 3,176 SF • Oceanfront Corner Unit • MLS# A11845857

Sale Price CASH
$1,200,000
Closing Date
Apr 30, 2026
Commission (4%)
$48,000
Actual Walk-Away FINAL
$945,184
+$36,001 vs projected
Gap
Deal Agreed
2

Final Outcome — Deal Closed

✓ CLOSED
Settlement Date: April 30, 2026   |   Title Company: Title Now, LLC  ·  File #S26-04022T   |   Settlement Attorney: Tahir Noohani

Projected (Apr 3) vs. Actual (Apr 30) — Variance Analysis

Line Item Projected (Apr 3) Actual (Apr 30) Variance
Sale Price $1,200,000 $1,200,000 $0
Mortgage Payoff $200,000 $170,448.26 +$29,551.74 ▲
2025 Property Taxes $25,000 $25,370.08 −$370.08 ▼
April SAX Payment $6,102 $0 (paid directly) +$6,102 ▲
Commission (4%) $48,000 $48,000 $0
Doc Stamps $8,400 $8,400 $0
Title Insurance Buyer paid Buyer paid $0
Settlement Fee $1,500 $895 +$605 ▲
HOA Estoppel $500 $828 −$328 ▼
Sotheby's Admin Fee $495 $495 $0
Title Search $200 $400 −$200 ▼
Recording / Wire / FedEx $370 $215 +$155 ▲
HOA Prorations Credit Not estimated +$8,179.66 +$8,179.66 ▲
Tax / Non-Ad Val Prorations Not estimated −$8,120.22 −$8,120.22 ▼
Municipal Lien Searches Not estimated −$480 −$480 ▼
RON Signing Not estimated −$175 −$175 ▼
Wire Verification Not estimated −$50 −$50 ▼
TOTAL VARIANCE Projected: $909,183 Actual: $945,184 +$36,001 ▲

Actual Settlement Statement Breakdown — ALTA Combined Statement

Seller Credits (Added to Proceeds)
Sale Price of Property $1,200,000.00
Unit 1801 HOA Q3 Prepayment (4/30–7/01) +$3,564.38
Unit 1802 HOA Q3 Prepayment (4/30–7/01) +$4,615.28
Total Credits $1,208,585.11
Seller Debits (Deducted from Proceeds)
Mortgage Payoff to Union Savings Bank −$170,448.26
2025 Taxes Due Unit 1801 −$10,522.04
2025 Taxes Due Unit 1802 −$14,848.04
Unit 1801 Tax County Proration (1/1–4/30) −$3,173.73
Unit 1802 Tax County Proration (1/1–4/30) −$4,541.04
Unit 1801 Non-Ad Valorem Proration −$198.90
Unit 1802 Non-Ad Valorem Proration −$206.55
State Tax Stamps (Doc Stamps) −$8,400.00
Recording Charges (Deed/Mortgage/Release) −$55.00
Commission to One Sotheby's International Realty −$48,000.00
Sotheby's Processing Fee −$495.00
Settlement Fee (Title Now) −$895.00
Wire Fees −$70.00
Wire Verification −$50.00
FedEx / Courier −$20.00
Title Search / Review (Title Now) −$400.00
Municipal Lien Search Unit 1801 (Lien Shield) −$240.00
Municipal Lien Search Unit 1802 (Lien Shield) −$240.00
RON Signing (Assurance) −$175.00
Estoppel Fee & Reimbursement Unit 1801 (Lien Shield) −$414.00
Estoppel Fee & Reimbursement Unit 1802 (Lien Shield) −$414.00
Total Debits −$263,401.11
DUE TO SELLER
$945,184.00
April 30, 2026  ·  Title Now, LLC  ·  File #S26-04022T

▲ Why You Did Better Than Projected

+$29,552
Mortgage Payoff Came in Lower
Estimated $200K, actual $170,448.26. Months of principal payments since the estimate, plus per-diem interest savings from paying off mid-cycle.
+$6,102
SAX 3rd Quarter Paid Directly
The April Special Assessment ($6,102) was paid directly to the HOA outside of closing — not deducted from your proceeds at settlement.
+$8,180
HOA Q3 Prepayments Returned
You had already paid Q3 HOA fees. These were prorated back to you at closing: Unit 1801 ($3,564.38) + Unit 1802 ($4,615.28) = $8,179.66 credit.
+$605
Settlement Fee Cheaper Than Estimated
Title Now, LLC charged $895 for the settlement fee, versus the projected $1,500 estimate — a clean $605 saving.
Offsets (items that ran higher): Tax prorations (−$370), lien searches (−$480), RON signing (−$175), higher estoppel (−$328), title search overage (−$200), wire verification (−$50). Net of all offsets: +$36,001 better.

Next Steps — Post-Closing Action Items

Immediate (Within 7 Days)
1
Confirm wire receipt
Verify $945,184 was received in your designated bank account.
2
Save closing documents
Settlement statement, deed, payoff letter, trust documents. Keep for 7 years for tax purposes.
3
Notify your insurance company
Cancel HO-6 condo insurance effective 4/30/2026. Request proration refund for any prepaid premium.
4
Update your address with key parties
IRS, banks, DMV, and insurance carriers if you have moved out.
Financial (Within 30 Days)
5
Talk to your CPA about capital gains
Cost basis vs. $1,200,000 sale, plus closing costs and improvements. Section 121 exclusion may apply if this was your primary residence.
6
Plan the proceeds
$945,184 needs a strategy: pay down debt, invest, fund J1 program operations, or real estate 1031 exchange (identify replacement within 45 days, close within 180 days if you want to defer gains).
7
1099-S form expected
Title company will file IRS Form 1099-S reporting the sale. Watch for it in January 2027.
HOA / Association
8
Confirm Marquis received transfer
“Change of Records” was filed with Marquis Association Management ($150 each unit). Verify the buyer is now on record.
9
Cancel any auto-pay
Stop ClickPay ACH for HOA fees and special assessments immediately.
10
Get final HOA statement
Confirm zero balance owed to Marquis Association Management for both units.
Tax-Related
11
Property tax confirmation
2025 taxes ($25,370) were paid at closing. You should receive a paid-in-full notice from Broward County Tax Collector.
12
Keep all closing documents for cost basis
Original purchase price + improvements + closing costs (purchase) + selling costs = your adjusted cost basis for capital gains calculation.
Longer-Term
13
Capital gains tax planning
If investment property, gain is taxable. Consult CPA about timing of recognition, installment sale options, and state tax. Florida has no state income tax — an advantage.
14
Update estate planning documents
Remove this asset from any wills, trusts, or beneficiary designations where it was listed.
15
Final reconciliation
Compare all moneys received to the settlement statement. Flag any discrepancies with Title Now, LLC within 30 days.
3

Contract Red Flags

10 items requiring your attention — Contract executed April 2, 2026

■ Contract Key Terms — Karumsi Family Revocable Trust
Buyer Karumsi Family Revocable Trust
Sale Price $1,200,000
Deposit $100,000 ($20K initial + $80K additional)
Type Cash — No Financing Contingency
Contract Type AS-IS
Attorney Approval 3 business days from Eff. Date (~Apr 7)
Inspection Period 5 business days
Closing On or before April 30, 2026
Escrow Agent ONE Sotheby's Intl Realty
Parking Space #32 (Unit 1802), Space #149 (Unit 1801)
Flag 1: Buyer's Attorney Approval (Rider Z)
HIGH
  • ●Rider Z attached — contract is contingent on buyer's attorney approval within 3 business days
  • ●Buyer can walk with full $100K deposit refund if attorney disapproves for any reason
  • ●Essentially a free look period — buyer has zero risk during this window
  • ●Deadline: ~April 7, 2026
Until Apr 7: your $100K deposit is fully refundable. No commitment from buyer yet.
Flag 2: Buyer Is a Trust
MODERATE
  • ●Buyer: Karumsi Family Revocable Trust — two trustees: Renu Karumsi & Dipash Karumsi
  • ●Trust purchases add closing complexity; both trustees must sign all documents
  • ●Must verify FIRPTA compliance — FL Statute 692 restricts foreign buyers from China, Russia, Iran, N. Korea, Cuba, Venezuela, Syria
Confirm trustees are U.S. persons and obtain trust certification before closing.
Flag 3: Open Permits / Liens Clause
HIGH
  • ●Paragraph 20 Item 6: Seller must convey “free and clear of ANY and ALL open or expired permits, liens, violations or fines” at Seller's sole cost
  • ●For a 1969 building with 2 units, unknown open permits are a real risk
  • ●Any open permit found at closing becomes seller's problem to resolve
ACTION: Run Broward County permit search on both units IMMEDIATELY before attorney approval deadline.
Flag 4: Hallway Restoration Assessment
MODERATE
  • ●Paragraph 20 Item 2: Buyer assumes the Special Assessment for hallway restoration “which has not yet been levied”
  • ●Good that buyer assumes it, but if levied before closing there could be ambiguity about who pays
  • ●Timing matters — a levy before Apr 30 could trigger a dispute
Get written confirmation from HOA on assessment timing before closing.
Flag 5: Dual Agency — Brian Hero Both Sides
MODERATE
  • ●Brian Hero is listed as BOTH cooperating AND listing sales associate
  • ●ONE Sotheby's is both brokerages — dual agency arrangement
  • ●Commission: 4% total = 2% listing + 2% buyer's broker (per MLA)
  • ●Brian cannot fully advocate for seller in a dual agency situation
Consider hiring independent legal counsel to review contract terms before attorney approval window closes.
Flag 6: Affiliated Title Company
MODERATE
  • ●ONE Sotheby's (MDLV LLC) owns >1% of Florida Secured Title LLC
  • ●Brokerage profits from the title company they're directing the deal to
  • ●Title charges estimated 0.5%–1.25% of purchase price ($6K–$15K on buyer's side)
  • ●You are NOT required to use their title company — you can shop around
RESPA disclosure required. Shop independent title companies if desired.
Flag 7: $495 Admin Fee
LOW
  • ●Sotheby's charges $495 “transaction/administrative fee” on top of the 4% commission
  • ●Both parties may owe this fee — clarify if you pay $495 or both sides pay $495
  • ●Included in your updated walk-away calculation (−$495 deduction)
Flag 8: Multiple Exit Ramps for Buyer
HIGH
  • ●Attorney approval: 3 business days — buyer can walk for any reason
  • ●Inspection period: 5 business days — buyer can walk for any reason (AS-IS contract)
  • ●Buyer has nearly 2 full weeks of exit opportunities before being truly committed
  • ●Your $100K deposit is fully refundable during both windows
Deal is NOT firm until both attorney approval AND inspection periods expire. Stay cautious until ~Apr 14.
Flag 9: Seller Disclosure Obligations
MODERATE
  • ●Must provide: Condo Disclosure, Seller's Property Disclosure, Lead Paint Disclosure (mandatory for pre-1978 buildings), Flood Zone Disclosure
  • ●Must provide architectural plans, drawings, and building documents
  • ●Failure to deliver any required disclosure could give buyer an additional exit
ACTION: Prepare ALL disclosures immediately. Do not wait — delivery delays create buyer outs.
Flag 10: Listing Price vs. Contract Price Gap
LOW
  • ●MLA modified listing price to $1,400,000 on March 25, 2026
  • ●Contract signed at $1,200,000 on April 2 — $200K below the modified listing
  • ●The MLA was signed before the contract — the listing was adjusted down anticipating this deal
  • ●Not a concern procedurally, but documents the depth of the discount accepted
4

Final Deal Summary

The agreed deal — April 1, 2026

✓ AGREED
Final Deal Breakdown
Sale Price $1,200,000
Mortgage Payoff −$200,000
2025 Property Taxes −$25,000
April SAX Payment (seller pays before closing) −$6,102
SAX Remaining Balance (~$49K after April payment) → Buyer Assumes
Realtor Commission (4%) −$48,000
Documentary Stamp Tax (0.70%) −$8,400
Title Insurance → Buyer Pays
Title / Closing Fees −$1,500
HOA Estoppel −$500
Recording / Doc Prep / Wire −$370
Mortgage Payoff Fee −$250
Title Search / Tax / Lien Search −$200
Sotheby's Admin Fee (Paragraph 20) −$495
Miscellaneous $0
Total Deductions −$290,817
You Walk Away With
$909,183
Closing: April 30, 2026
Type: Cash — No Financing Contingency
SAX: Seller pays April installment (~$6,102), buyer assumes remaining ~$49K
5

All Property Burdens

Every cost owed at or before closing

Item Amount
Mortgage Balance$200,000
2025 Property Taxes (Unpaid)$25,000
Special Assessments (SAX Remaining)$50,000
FL Documentary Stamp Tax (0.70% of sale)varies
Title InsuranceBuyer Pays
Title / Closing Fees$1,500
HOA Estoppel Letter$500
Recording Fees$70
Doc Preparation$250
Wire Transfer$50
Mortgage Payoff Fee$250
Realtor Commission (4%)varies
Miscellaneous (user-editable below)$0
Final Deal — SAX Terms: Seller makes the April payment (~$6,102) before closing. The remaining balance (~$49,000) is assumed by the buyer. This is $27,853 better than the previous $1,225,000 offer where seller paid the full $50K SAX.
6

Scenario Calculator

Scenario 1 is the agreed deal. Scenarios 2–3 show what could have been. Scenario 4 is custom.

7

Miscellaneous Costs Editor

Add line items that feed into all scenario calculations

Total Miscellaneous $0
8

Deal Assessment

Final deal analysis — why this outcome is the right call

✓ Why This Deal Works

  • This deal at $1,200,000 with buyer assuming ~$49K SAX nets you $909,183
  • This is $27,853 better than the previous $1,225,000 offer where you paid the full $50K SAX (walk-away was $881,330)
  • Cash deal closing April 30 — eliminates holding costs and financing uncertainty
  • After 207+ days on market, a firm cash close is the right outcome
  • You saved $6,102 on top of the buyer assuming $49K — the April SAX payment was the key term won
  • No financing contingency, no appraisal risk, 30-day close

✓ Deal Agreed — April 1, 2026

AGREED DEAL: $1,200,000 cash, buyer assumes SAX (~$49K), seller makes April payment (~$6,102). Closing April 30, 2026.

Walk-away: $909,183 — this is $27,853 more than the previous cash offer at $1,225,000 (walk-away $881,330).

Counter at $1,250K would have netted — — a difference of $53,752 that the buyer wasn't willing to pay.

Break-Even Threshold

—
Final deal exceeds this by a wide margin

Scenario Comparison

Scenario Walk-Away vs. This Deal
Previous offer — $1,225,000, seller pays full SAX ($50K) $881,330 This deal is $27,853 better ↑
THIS DEAL — $1,200,000, buyer assumes SAX (~$49K) $909,183 ✓ AGREED
Your counter — $1,250,000, buyer pays SAX $955,155 Counter was $53,752 more (buyer declined)
9

Deal Timeline

Key events from listing to close

September 5, 2025
Listed at $1,595,000
February 19, 2026
Price reduced to $1,545,000
March 2026
Further reduced to $1,495,000
Buyer's First Offer
Buyer offered $1,100,000 — seller financing ($500K down, 3-yr term)
Buyer wanted seller to pay $50K special assessments
Your Counter
Countered at $1,250,000
Buyer pays assessments
Mar 31, 2026
Buyer returned with revised cash offer: $1,200,000
Buyer assumes SAX (~$49K after seller's April payment) — full cash, no financing contingency
Apr 1, 2026 — DEAL AGREED ✓
DEAL AGREED: $1,200,000 cash — Buyer assumes SAX (~$49K)
Seller makes April SAX payment (~$6,102) before closing. Walk-away: $909,183
Apr 2, 2026 — CONTRACT EXECUTED
Contract executed. Karumsi Family Revocable Trust. $100K deposit. Attorney approval + inspection windows open.
Attorney approval deadline: ~Apr 7 (3 business days). Inspection period: 5 business days. $100K fully refundable during both windows.
April 30, 2026 — DEAL CLOSED ✓
DEAL CLOSED — Walk-Away: $945,184  ·  $36,001 better than projected
Title Now, LLC · File #S26-04022T · Attorney: Tahir Noohani · Cash close, no financing
10

Cost Waterfall Chart

Visual breakdown of how the sale price reduces to your walk-away

Agreed Deal ($1,200,000) — Waterfall CASH ✓ AGREED

Walk-Away Comparison — All Scenarios