Buying a hotel is a good business investment – more so, if the hotel in question is in Florida, which is one of the greatest tourist destinations in the world. In case you need to get an idea of what you can find, run a search on the Internet. You will discover through this search hundreds if not more of advertisements for buying and selling of hotels in Florida.
In order to get the ball rolling you will first have to do your homework in terms of background research about what properties are available, what locations, what are the bank loans available for this purpose, the terms of these bank loans, the return on investment ratio of the hotel, and so on.
You will find that a hotel for sale in Florida will cost anything from US $500,000 to $ 7,000,000 (and may be even more). These properties are usually transacted with the help of special hotel sale agents – much the same way house are sold by real estate agents.
A good thing to consider when you are looking for hotels for sale in Florida, is the buying of a condo hotel instead of a regular hotel. Though vacation houses in condominiums has been a regular thing in the past, today these same accommodations are converted into three and four star hotels, which are much in demand with the present day tourists.
Your homework would include a property-by-property report so you could compare prices vis-à-vis the amenities they provide. It would be obvious to expect a hotel to cost more if it is successful, than one which is not yet established as a brand. Other factor that would influence the hotels for sale in Florida is their location. Holidaying people would need a good view and walking distance from the sea and the centre of fun. The further these hotels would be from the desired locations, the lower would become their price.
Once you decide on your budget and preferred location of the hotel, the next step is to have a physical inspection of the premises and the books; get it evaluated by your experts and have a building inspector look it over. There are many tricks that people can play to enhance the evaluation of the building. Ensure that you are well versed with the most and be extremely careful that you do not let anything pass by you as genuine when it is false.
Beware that there are as many forgery cases as there are good cases; hence, be extremely careful when you deal with the agents and do not sign any contract without the advice and consultation with a good lawyer. Buying and selling a hotel is serious business and one, which can set you back by a small fortune if you are not overly careful while closing the deal.