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Home Buyer Juegos Home Building | Some Things To Consider – Buying A Gas Station For Sale
June 15, 2010 by man
Filed under First Time Home Buyer Michigan
home buyer If you are thinking of buying a gas station for sale in the Greater Toronto Area or in southern Ontario, Canada there are a few things you should think about before you make the purchase. Buying a service station can be a bit more complex than many other types of issues due to environmental or franchise variables. They can also be a great investment if structured properly.
Demand for gas station businesses is high
These are one of the most popular businesses that people generally inquire about. They are (relatively) easy to operate and can be a good investment for the right owner. The demand for gas stations will remain high – even if the price of oil continues to fluctuate. If there is a major shift to “green” energy in the future people will still require local and accessible centres to fuel their vehicles.
juegos First, acquaint yourself with the three different ways property can be held in Panama–titled, rights of possession, and concession. The last two may not even exist in your country of origin, but they are common in Panama. Titled property is just the same as elsewhere in the world. The seller owns the property and holds title to that property which he can transfer through sale to the buyer. Rights of Possession (ROP) property is owned by the Republic of Panama. Rights of Possession can be transferred through a sales transaction, but the government is still the official owner of the property. Concession rights refers to the right to use (usually coastal land or islands) for a fee and a specific period of time. Concession property is also owned by the government. Buyers often ask whether it is “bad” to purchase ROP or concession properties. The answer depends on how you intend to use the property and how secure you feel with your decision. For instance, if you were interested in building a ’surf camp’ on some remote beach with very little capital outlay, an ROP property might offer you the chance to do so without the high price tag of titled oceanfront. However, if you were looking to build a high-end resort, with millions of dollars investment, then you might want to pay the higher price of a titled beachfront property to secure your investment.
home building Second, it may seem obvious, but deal with a licensed agency. Not all persons working for a real estate office need to have a license, but by law there must be someone licensed who represents the organization. If your real estate professional cannot supply you with a license number under which their office operates it is wiser to move along and find a more legitimate and legal representative to help you. In the unfortunate event that something turns ’sour’ in your real estate transaction, you will have recourse with the licensing board should the fault lie with your realtor.
Environmental Issues. Consult with an expert regarding the environmental issues surrounding a gas station business for sale. You may encounter issues such as contamination, tank lining and remediation. If there is an environmental issue to contend with you will want to know before you buy the business. Clean-ups can cost into the thousands of dollars. Investigate if there is any pending or past law suits or actions taken as a result of environmental issues. The new owner of a gas station may be held liable.
Fourth, it is always best to have independent legal council. Be wary of real estate offices who claim to ‘handle it all’ for you. Your real estate representative should be able to present you with a choice of attorneys from which you can choose the one you are most comfortable in terms of communication skills, pricing and responsiveness. Although it is tempting to take the easy one-stop-shopping way out, you can never be sure that the legal counsel who is also employed or affiliated with the real estate agency is working for your benefit exclusively. Take the time to find someone who is truly independent of any obligation toward the agency, or for that matter, the seller. It is not unusual for a seller to use the same attorney as the buyer, but it is always wise for the buyer to make that choice from the start.
Buying a filling station business for sale can be a great investment. It is important to also remember that buying a gas station is not necessarily a “hands off” investment – contrary to what some people may think. It involves a lot of hands-on work to make it a success. A gas service station business is like most other small businesses in that books needs to be kept, employees need to be managed and proper planning must be in place to make it a success.
It is very important to do thorough investigation and to consult with legal, accounting and environmental experts before you make the purchase You can be published without charge. You can to republish this article in your website or blog. Please provide links Active.
