Ryan Harrington with the RE/MAX ONE Commercial Division recently closed on a 14 unit apartment complex at the corner of Broadway and 4th Street in Beaumont Texas. The transaction was pretty standard and made it to closing with minimal roadblocks. However, the road to under contract and closing was a long and arduous journey. This apartment complex was originally listed in October of 2016. Ryan found no shortage of potential buyers and the property spent the majority of this time under contract. Unfortunately, these deals were not able to make it to fruition do a myriad of reasons ranging from lack of funds, buyers not approved for financing, a hurricane, and deferred maintenance at the complex. The complex went in and out of contract 6 times before closing with the seventh Buyer. The Seller stuck with RE/MAX ONE through this entire process and gave high praise when the deal finally closed.
