Closing the Hotel Sale
Beginning the outline of the transaction. MTEL assists the purchaser in Letter of Intent (LOI) preparation and negotiations. After a purchaser indicates an interest in purchasing the hotel, MTEL assists the purchaser to prepare LOI describing the basic business terms of the purchase and presents it to the seller. MTEL acts as a buffer during these negotiations between purchaser and seller helping make the best use of your time and effectiveness in seeking the optimum fair market value from a trusted third party. Once the basic business terms are agreed upon by all parties, MTEL assists the Purchaser to:
- Prepare Purchase and Sale Agreement. Upon completion of the LOI negotiations and offer acceptance by both parties, MTEL can assist the purchaser in preparing a Purchase and Sale Agreement. Through its network, MTEL would suggest a knowledgeable and reputable attorney with expertise in real estate that performs in a timely manner.
- Conduct due diligence. Once the hotel is under contract, MTEL acts as a liaison between the seller and the purchaser and guides the purchaser throughout the due diligence process to verify the information presented.
- Obtain third party reports. Through its own network, MTEL arranges for survey, environmental, and appraisal inspections saving time and expense.
- Procure financing. MTEL assists the purchaser in successfully obtaining suitable financing for the hotel project.
- Negotiate franchise license transfer terms Franchise license transfer process can be difficult. MTEL has a long standing working relationship with various franchising companies to help guide and negotiate the best possible terms of the franchise license transfer.