From Contract to Closing
Once under contract in the form of a Letter of Intent (“LOI”) or Offer to Purchase (“OTP”), Blue Ridge Brokerage will continue to work for you to Closing of the transaction. We want to work in a way where we build a trusting relationship that will last well beyond any transaction.
A Buyer will further their due diligence once under contract. This will require varying levels of additional discussions, information requested and documentation. We will be with you along the way to facilitate and help manage the process.
If needed, we work with Buyers to share the different types of financing structures applicable to a specific buying opportunity. We stay connected with our bank relationships, investor relationships keeping us apprised of market dynamics impacting financing structures. Based on the type of financing a Buyer is using (SBA loan, Conventional Loan, Personal Loan, Seller Note) will determine the level of due diligence, documentation requirements and time needed to close. If financing is involved, we will work with the Buyer to ensure the process with their Bank is moving along effectively and a commitment letter is provided by a specified timeframe prior to Closing Date.
We can provide local resources if needed. We have long-standing relationships with several reputable attorneys. Some of the documents you can expect to see prior or at Closing: LOI/OTP, Purchase Agreement, Consulting Agreement, Lease Agreement, Closing Statement.