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Our owners are putting 2 hotels that are paid for up for…

Customer Question
Our owners are putting...

Our owners are putting 2 hotels that are paid for up for sale. It is a package deal. Can the employees purchase it

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

No steps have been taken. We would like them to finance and we put a down payment. We would like to submit a legal proposal but we don't know how to go about doing it. They are unaware that we want to do this. They have not officially put it on the market and they have only informed management.

Lawyer's Assistant: Where is the property located?

New Iberia, Louisiana

Submitted: 1 month ago.Category: Real Estate Law
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Answered in 1 minute by:
3/20/2018
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 1 month ago
RealEstateAnswer
Category: Real Estate Law
Satisfied Customers: 30,885
Experience: 10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help with your question and concern

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Real Estate Lawyer: RealEstateAnswer, Lawyer replied 1 month ago

Good morning. There should be no reason that the employees could not, assuming the terms and conditions can be agreed upon. However, you first need to see if they want to finance the deal or if they just want to sell them and get paid off and walk away. You can speak with them and see if they would be interested in this and if so, an attorney can be retained to represent the employees in the purchase and the necessary documents, partnership agreements, LLC, etc can be set up.

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Customer reply replied 1 month ago
What is the ideal amount to have as a down payment to initially present to them? How much cash will we need for the attorney?
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 1 month ago

It all depends on what they are selling these for. You need to find out what they want to sell for. As far as an attorney, to handle all of this, it could be a few thousand dollars, if not more, to handle the deal and set everything up.

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Customer reply replied 1 month ago
Are you still there?
Real Estate Lawyer: RealEstateAnswer, Lawyer replied 1 month ago
I just responded above.
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Real Estate Lawyer: RealEstateAnswer, Lawyer replied 28 days ago

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!

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