In Sept. 2015, a real estate developer agreed to purchase a portion of a 147,000 complex. As sometimes happens in such situations, the deal was delayed. Reasons for the delay included the fact that the city in where the property was located did not issue the needed approvals for the deal. The real estate dispute also had a lot to do with lack of agreement for a payment plan. Those in Florida who are facing similar real estate problems would likely benefit from experienced legal representation.
The delay lasted a full two years. However, on a recent Thursday, it was announced that the transaction is finally set for completion. The company selling the property said the proposed $27.8 million deal will really help it get its finances back on track. The company previously began selling assets when the financial crisis hit in order to keep up with mortgage payments.
Details were not provided as to the specific strategies that were employed to help resolve the dispute. Many times, one delay leads to another before a fair and satisfactory solution to a particular problem is finally achieved. Some delays, however, can cause a proposed deal to crumble, causing potential economic loss to one or more parties.
When a real estate dispute arises in Florida, it is often best to seek immediate assistance from an experienced attorney. This type of representation often means the difference between swift and agreeable solutions and lingering battles that appear to no have no hope of being resolved. When an attorney acts on behalf of a real estate buyer or seller, it is often more likely that the best possible solution to any disagreement will be found.
Source: therealdeal.com, “Carthage must be thrilled: Developer closes on $28M Harlem complex deal“, Kathryn Brenzel, Dec. 21, 2017