MergerPlace

Profitable Boutique Law Office

Florida (Palm Beach)


  • Asking Price: $375,000
  • Gross Income: $324,467
  • Cash Flow: $118,260
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $10,000
  • Listing ID: #209389
  • Established: 2003
  • Employees: 3 FT

Business Description

This Law Office is a boutique firm that specializes in Real Estate transaction law, estate planning and probate and trust administration. The real estate matters handled by the firm include residential and commercial sales transactions. The attorney prepares residential and commercial contracts, leases and leases with option to purchase. Real estate matters are handled from the contract inception through closing. The firm researches title, conducts municipal lien searches, property tax review, estoppel requests, preparation of closing disclosures, HUD-1’s for cash transaction, prepares seller’s and buyer’s conveyance documents, conducts closings, coordinates disbursements, prepares closing packages to the lender, recorder’s office and reviews post-closing matters including the issuance of title insurance policies to owners and lenders. Old Republic National Title Insurance Company is the title underwriter for the title insurance policies and also holds the escrows deposits and loan funds on behalf of the firm. The firm also handles small business sales, entity formations and partner buy-outs. In addition to the real estate, the law firm has an estate planning and probate component offering estate planning to its clients, including, wills, health care directives, power of attorneys, living wills, revocable trusts, special needs trusts and life estate deeds. As a result of the estate planning services provided to clients, the relatives of the firm’s estate clients have returned to the firm for probate cases, particularly relatives who live out of state and have been named as executors or personal representatives of estates. The firm predominantly handles both Summary Administration and Formal Administration. There are no litigation probate matters handled by the attorney. The attorney has also handled immigration cases, specifically in the area of family and spousal petitions and citizenship.


Business Details

Primary Business Category: Services - Professional, Scientific and Technical
Location: Florida
County: Palm Beach

Company Information

Year Established: 2003
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 3 FT

Financial Information

Asking Price: $375,000
Gross Revenue: $324,467
Cash Flow: $118,260
FF&E: $10,000
Seller Financing Available: No

Property Information

Facilities:

The law office is located in the heart of Palm Beach County, Florida. This area is widely-known for its equestrian and polo activities during the fall and winter seasons. There are several prominent communities within a 5 mile radius of the office. The plaza has a Starbucks, Dunkin Donuts, two banks, several real estate brokerage firms, accounting, restaurants, salons, spas, and several other business. This part of Palm Beach County is generally considered as part of the “western communities” and is an area of growth with both seasonal and year-round residents.

Growth & expansion opportunities:

The firm is an excellent fit for a large firm willing to increase market share, an attorney looking to expand into other areas of law or for an attorney that is new to the area and has little or no clients.

Competition:

The competition is fierce in the legal space in Palm Beach County but the attorney has made a name by serving the clients diligently and successfully for 15 years. The bi-lingual staff put in place gives this firm an edge when talking to clients of diverse backgrounds as well as international. Perfect match for a larger firm looking to gain market share or a young attorney that wants to capitalize on a firm base.

Reason for selling:

Family relocating out of state.

Support & Training:

Will train for 3 weeks @ no cost The only services provided are legal services, there are no products made or sold. A potential buyer must be a Florida licensed attorney in good standing with the Florida Bar. To conduct the real estate closing, the title underwriter requires liability insurance ($1,000,000/$1,000,000). Knowledge of the practice areas (real estate, estate planning and probate) will be necessary. The existing staff consists of a paralegal who is an independent contractor and is extremely knowledgeable and a key member of the real estate department. The second staff is a legal assistant/receptionist who assists the paralegal in collection of information, pre-closing orders, preparation of closing documents, coordinating the closing and post-closing matters. The estate planning paralegal has been trained for the past 2 years under the supervision of the attorney for the initial drafting of simple wills and ancillary documents, petitions for both Summary Administrations and Formal Administrations. Most counties in the state of Florida have adopted an electronic filing system which the probate paralegal is very knowledgeable with. The attorney and staff are bi-lingual in Spanish and English. The firm has clients from various Latin American countries, Caribbean, middle-eastern countries and Europe. It is helpful if the attorney can speak Spanish but not essential as the staff is fluent and can serve as interpreters.

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Business Listed By:

Anton Joro

Murphy Business Brokers