Katherine Courts, Ocala, FL

24 Units

Katherine Courts, Ocala, FL

Challenge:

A 24-unit apartment complex in Ocala was part of an estate and needed to be sold. The asset was well maintained but in a higher crime part of town. The attorney and CPA handling the estate asked The Beery Rainsberger Group (BRG) if they could find a qualified buyer in a reasonable amount of time.

Action Taken:

BRG needed to find a buyer who specializes in just this kind of property. The day after obtaining the listing from the estate, an existing customer just happened to call Beau Beery as he was passing through Gainesville and wanted to catch up. Beery brought up the property because he knew it met the buyer's needs. Immediately after meeting with Beery, the buyer headed south to Ocala on his way back home and stopped by the property. The buyer turned in an offer the next day.

Result:

The road to closing was not without difficulty. Several vacancies occurred during due diligence, which gave the buyer pause. Plus there were encroachments on the survey that could cost the buyer thousands of dollars in the future. BRG was able to  handle the potential roadblocks, which resulted in a quick closing. The attorney and CPA for the estate was pleased for his clients and the buyer added an asset that fit well with the rest of his portfolio.

Testimonial:

Beau Beery was able to provide an all cash experienced buyer with a significant earnest money deposit, quick inspection period, and a quick closing of an apartment community owned by a client's estate. Beau was able to secure a fair price for the asset and despite a couple of minor bumps in the road with the last minute vacancies and survey issues, he helped get the deal closed. We would definitely work with BRG again should the need of one of our clients in the Florida market arise.

--Mike Collins, CPA & CFP