In Florida, a commercial sale is typically closed at an independent “Title Company” and not an attorney’s office. The parties select a title company and both parties will work thru the title company providing necessary information for a successful closing. The title company is considered the neutral closing agent. Some buyers elect to hire an attorney just to review the closing documents. All funds are wired in.
You either have to show proof of cash funds, or get pre-qualified by a Bank. South State Bank which has offices from Florida to Maryland has been great to work with on commercial sales.
We at St Aug Commercial Properties only represent only one side of the transaction - either the seller or the buyer, NEVER BOTH in the same transaction. The seller pays our commission, not you the buyer. We will never be a dual-agency.
Before the closing (well in advance actually), you have to provide to the closing title company an insurance binder on the property. Most buyers of commercial real estate that we work with have a pre-existing relationship with an insurance company.
If you would like to talk with us about anything commercial real estate please call us at (904) 878-5596 24 hours a day - 7 days a week. If we are busy serving clients please leave a voice message and we will return your call promptly.
