Title Company & Law Firm For Sale

Business description

This title company has grown into one of the most well known legal service providers in Florida. They offer a variety of real estate services to clients referred by banks, institutional lenders, developers and brokers. While most firms are closing down, they continue to close deals thanks to loyal clientelle, excellent service and a referral network. From downtown Miami they can service the whole state with electronic processing and mobile closing agents. Sale must include seller financing offered as an earn-out (contingent on future performance) of $1,250,000 above and beyond the $750,000 down payment.

Property information

Real Estate:

Real Property Included

Lease terms:

There are three years left on the lease during which the $29 per square foot rate will climb to $31, which still leaves the lease well below current market rates.

Location:

Their 4,400 square foot luxury offices are located on the first floor of a Class A office building in downtown Miami and include ten dedicated parking spaces.

Other information

Expansion potential:

The firm has blossoming legal practice that adds $300,000 in billed revenue per year. With an everexpanding client base and a prestigious reputation, it offers to its existing real estate clients new legal services such as establishing land trusts and handling foreclosures and bankruptcies. The new millennium ushered in a digital age and this firm is on the cutting edge of that technology by implementing electronic package processing. Real Estate consultation, appraisals, and referral to real estate agents are just a few of the many services available.

Competition / Market:

The company’s red carpet services include answering all client real estate questions, reviewing contracts, preparing land trusts, and providing legal services while looking after the client’s best interest. The company closes on an average of 50-90 files per month and has recently taken in-house as many as 150 files in one month. About 70% of files taken in are closed in the same month, leaving a roll-over of 20% to the following month and 10% for longer.

Support & training:

The main support staff is composed of 5 employees which include both agents and attorneys. The three managers include the 2 owners and a G.M. The owner is willing to stay on for a two month transition period.

Reasons for selling:

Owners want to go into early retirement.

Trading hours:

Mon-Fri; 9am-6pm

Financing available:

Seller is open to creative deal structures. Business may qualify for 3rd party financing and SBA loan. Seller will finance $1,250,000 for 5 years as an earn-out.

Furniture / Fixtures value:

$163,804

Contact the seller