Important Steps in Purchasing or Selling Commercial Real Estate in Florida

Purchasing and selling commercial real estate in Florida is often a complex and lengthy process because each transaction depends on many different factors. These factors are including but not limited to, state, county, and local laws, industry-specific considerations, market trends, the purchaser’s intention, the method of financing, and the timing of the closing.

In this article, you will be able to understand the overview of a commercial real estate purchase and sell process.

Preliminary Considerations

Brokers typically prepare marketing materials for the property. These materials often influence the sale price and other key financial terms.

Letter of Intent (LOI) typically acts as a basis for further negotiation and does not bind the parties to close the sale of the property.

Purchase and Sale Agreement

A real estate purchase and sale agreement is a hybrid between state laws governing contracts and those governing real estate. Every provision is up for negotiation. The purpose of a purchase and sale agreement is to specify each party’s rights, obligations, and liabilities; it details the steps of the process; and defines the property is being conveyed.

Title and Survey Matters

In Florida, title searches are typically prepared by title companies. The title company or title agent typically issues a commitment for title based on the results of the title search.

Closing Documents

Closing documents including but not limited to, deed, bill of sale, an assignment of contract rights, a certificate that no tax is to be withheld under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), closing statement, transfer taxes, and real estate taxes.


In Florida, closings for commercial transactions are typically escrow closings. In an escrow closing, the escrow agent holds all of the original closing documents and funds pending the closing. If it is not an escrow closing, it will be a sit-down closing.


Sometimes parties’ obligations do not end with the closing. There might be some other steps that should be followed after closing such as, ensuring that all required notices to tenants and service contract providers are delivered promptly following the closing, ensuring the filing and recording in the county recording office of all original documents requiring recordation.

If you’re planning to purchase commercial real estate in Florida, give us a call @ 305-728-5331 to set up your consultation with our team.


Disclaimer: The information provided in this post does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this post may not constitute the most up-to-date legal or other information. Readers should contact their attorney to obtain advice with respect to any particular legal matter. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this post without first seeking legal advice from counsel in the relevant jurisdiction. Only your individual attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this post does not create an attorney-client relationship between the reader, user, or browser and Aktas Law, P.A. All liability with respect to actions taken or not taken based on the contents of this site are hereby expressly disclaimed. The content on this posting is provided “as is;” no representations are made that the content is error-free.