NEED TO MAKE A RE PURCHASE AT THE 11TH HOUR?!

Posted by Christine Lund on February 17, 2016 in Case Study

Plato imageAfter meeting with Wingspan Life Resources’ executive team in-person, Ted Carlson and Mike Hartman of Carlson Commercial began their search for office buildings for sale in St Paul.

They presented Wingspan with a comprehensive and detailed list of available options. When Wingspan expressed great interest in a building on Plato Blvd, Ted and Mike acted quickly to get the skinny on the building, which included determining if there was interest from other perspective buyers. When Ted and Mike learned that there had already been an accepted offer (and signed non-binding LOI) from a different prospect, they advised Wingspan to put in a “blind” offer in the amount of the asking price, in order to leapfrog the other buyer. Within 24 hours of learning of the other accepted offer, Wingspan had placed their own offer which was promptly accepted by the seller. Due to Ted and Mike’s prudent negotiating, the accepted offer included roughly $3,000 in personal property that the Seller agreed to pass on to Wingspan.

A couple weeks later, with a signed Purchase Agreement in hand, Ted and Mike navigated Wingspan through the due diligence process. When a Phase I environmental test prompted further environmental testing, Team Carlson shrewdly advised Wingspan to press the Seller to agree to pay for any costs for future environmental tests which might be required post-closing. Seller agreed to this request, signed a corresponding Amendment to the PA, and the closing occurred in Early February 2016 without a hitch! Mike and Ted’s discipline, creativity, and foresight ensured that Wingspan’s purchase would be seamless, in spite of several obstacles along the way.