In our representation of you we typically use of of the following approaches:
Scenario #1: You prepare a simple - but direct "Letter of Intent", with your terms and requests. We submit to the Seller and kick off the process.
Scenario #2: You or your attorney can prepare a very detailed Letter of Intent to Purchase which we present to the other party. After any negotiation and finalizing of the "LOI" we are then in position to proceed to the formal "Purchase and Sale Agreement" by your attorney, for review and signature by the other party. Then the due diligence period begins.
Scenario #3: An alternative is for us to use the "Florida Bar Approved Commercial Real Estate Purchase Contract" after negotiations and signatures this Contract can govern the deal - or can be the worksheet for an attorney to prepare a formal Purchase & Sale Contract. The Florida Bar contract is pre-printed and approved by the State of Florida. We just fill in blank spaces. Florida has available a “Property Disclosure Form” that is not mandatory - but we would encourage Sellers to complete the form. Going forward the Disclosure answers many buyers questions - and also minimizes the chance of the seller unintentionally misinforming the buyer.
Selling property in St Johns County and Florida can be at times a somewhat complex process. There are county and business district regulations to be concerned with; as well as zoning and site plan requirements.
The sale of commercial real estate can be quite time consuming and we are here to help you in your search. Buyers tend to be much more sophisticated in the purchase process. They are interested in what the property details and the pricing, therefore a good broker will have reviewed the comps and historical sales data Call us to go thru the steps in the selling process.
Need HELP? Need more information? Call St Aug Commercial Properties today at (904) 578-5596 as our phone lines are live 24/7, or at property@staugcp.com
