Skip To Content

Due Diligence Checklist

Commercial Listing Agreement

All contracts used by Truman & Co. are created by attorneys for Florida Realtors to ensure that all parties are treated equitably. Please review and ask Kent and Regan any questions that arise. We are here to help make the commercial sales process as easy and painless as possible. Download and review or print the Commercial Listing Agreement

Commercial Contract For Sale and Purchase

All contracts used by Truman & Co. are created by attorneys for Florida Realtors to ensure that all parties are treated equitably. Here is a copy of the Florida Realtors sale and purchase agreement for commercial real estate. Please review and ask Kent and Regan any questions that arise. We are here to ensure that the buying process is as easy and painless as possible. Download and review or print the Commercial Contract

Real Estate Attorneys

Customarily, in our market, the seller pays for the owner’s title policy and chooses the closing agent or closing attorney while the buyer pays for the lender’s title policy.

Susan CardenasOropeza, Stones & Cardenas*, 305-294-0252

Erica SterlingSpottswood, Spottswood, Spottswood & Sterling*, 305-294-9556

Richard Klitenick–Richard M Klitenick, PA*, 305-292-4101

Building Inspectors

Time Frame:  Initiate immediately after property is under contract.  Due Diligence is a fixed time period stipulated in the contract customarily between between 15 and 60 days after the Effective Date of the contract, depending upon the complexity of the transaction.  Inspections, negotiations for repair, and/or contract cancellation must be completed within this time frame. 

May be Required (if inspection warrants further investigation):   Mold, Roofing, Wood-eating insects, Swimming Pool,  and/or any other inspection that may be deemed necessary or desired.

Building Inspectors*:

              Latitude 24–Omar Fernandez  305-797-2671  

              Associated Home Inspectors—Rick Gegorick 305-745-3411

              Island Life Inspections—Bob Branchau 305-912-4640  

Termite Inspectors*:

              Orkin                   305-294-2583

              Hammerhead      305-515-2800

Commercial Lenders

Time Frame:  Application is to be made immediately upon acceptance of offer.  The contract default is within 5 days.  A “strong” offer will be accompanied with a prequalification letter and funds verification for buyer’s cash responsibility.  Written loan commitment is due within the time frame per the terms of the contract. If you have not already, visit our Financing page.

Centennial Bank*—Mark Todaro 305-676-3145

BB&T Bank*–Dale Bittner 305-292-3842

First State Bank*–Ani Madruga 305-293-7130

Insurance Agents

Time Frame:  Contact upon completion of inspection period.

United Atlantic Insurance*, 305-748-2134

Key West Insurance*, 305-294-1096

Porter Allen*, 305-294-2542

Commercial Appraisers

Appraisal Company of Key West–Jim and Maria Wilson 305-296-4563

Surveyors & Elevation Certificates

Time Frame: Closing Agent should call for the survey upon completion of due diligence period or sooner in order to ensure a timely closing. If a fairly recent survey is available, a new survey may not be required. Consult with closing agent and lender for requirements. If a previous survey is available, contacting the same surveyor may result in cost savings.

J Lynn O’Flynn, Inc.* 305-296-7422

Reese & White Land Surveying*, 305-872-1348

Island Surveying, Inc.*, 305-293-0466


Time Frame:  Contact after all contingencies are met and prior to closing.

Electric:  Keys Energy Services*, 1001 James St. 305-295-1000

Solar:  Benson Green Technologies*, Jolly Benson, 305-296-3940

Water :  Florida Keys Aqueduct Authority*, 1100 Kennedy Dr. 305-296-2454

Cable Internet/TV/Phone Options :

                            Comcast*, 1010 Kennedy Dr. 888-220-6780

                            AT&T*, 1113 Key Plaza 305-296-5007

 Propane Options:

                            Suburban Propane*, 726 Catherine St., KW 305-296-2411

                            Amerigas*, 6301 3rd St., Stock Island 305-295-7724

                            Como Keys Gas*, 1109 Eaton Street, Key West 305-296-2848

Open Building and Tree Permits

Time Frame: It is never too early to close open permits. Start the process as soon as you are finished reading this post.
Most owners have no clue that there are open building and/or tree permits on their property, but it is an everyday issue for most real estate in Key West. The work is done, you have paid your contractor or arborist but they never called for a final inspection and the City of Key West never followed up, hence open permits hang out there for eternity until closed. Open permits can undo a transaction, so it is important to work through this with the City of Key West (or Monroe County for all islands east of Key West in the Lower Keys.)

Checking on and closing open building permits: First, open this webpage, type in your address and click on “search.” Any past permits on the property will be listed by year and permit number. If the “permit status” says “Adm Closed,” “Closed,” “Finaled,” or “Completed,” then the permits are officially closed. All other status’ such as “permit printed” or “permit issued” is an open permit. To have the permit file resolved and to remove the open or expired permits, go to the building department at 1300 White Street (rear entrance at parking lot) with your printed list in hand to determine what steps must be taken to close the permit/s. Some permits may be closed administratively if there are no safety issues involved. Others require the contractor of record to open the permit and to physically call for inspections and pay additional permit fees and/or inspection fees. In some cases the contractor may not be in business any longer or will simply stonewall in order to avoid helping the owner. In these cases, owners do have the ability to close the permits directly with the City. Speak with them about the process when you are at the building dept. To avert 11th hour issues just prior to closing which could possibly jeopardize the transfer of ownership, the seller needs to be proactive. This post should help.

Checking on and closing open tree permits: The same City website for building permits only has Tree Commission permits processed after August 2018, so there is an additional step that owners need to take to ensure that there are no other past open tree permits.  All older Tree Commission permits from 2010 to August 2018 are still in a database in Karen DeMaria’s office (the urban forester for the City of Key West).  Call Karen at 305-809-3768 in order to receive all of the proper information regarding open tree permits, if any, on your property.

Seller Deliverables

Timeline: Have documents readily available for when the property goes under contract.

The commercial contract specifies that the seller is to provide to the buyer a number of documents within a specified number of days after the effective date of the contract. The effective date is the date that all parties have completed signing and initialing the commercial contract and the date from which the timeline of the contract originates. Documents include Owner’s Policy of Title Insurance, the Deed, Lease/s (if applicable) and Survey & Elevation Certificate (if available). If provided, these documents may provide a cost savings to all parties at closing. Any other pertinent documents should also be included such as contracts with vendors (fumigation, pool & landscape services, etc.) or evidence from the City of Key West that all past building and tree permits are closed.

Title/Closing Procedures

Get wiring instructions to forward funds to closing agent

Closing agent will order survey and elevation certificate if needed, which is customarily at the buyer’s expense

Review mortgage documents with lender

 Review Closing Disclosure with your attorney for for accuracy

 Do a final walk-through of the property on the day of closing or as soon as possible

Have photo ID readily available at closing

Architects and Engineers

Time Frame:  as needed

Haven Burkee & David Salay of Bender & Associates*, 305-296-1347 

M Stratton Architecture*, 305-923-9670

Rob Delaune Architect, PA*,  305-293-0364

Artibus Design*, 305-304-3512


Time Frame:  as needed

Bird Construction*—Rick Bird 305-296-4687

Holtkamp Construction*—Jordan Holtkamp 305-797-9339 or 305-294-5399

J J Fairbank Construction*—Jay Fairbank 305-292-6584

Furnishings and Accessories

Debra Butler Design Studio*, 305-393-2942

Half Buck Freddie’s*, 726 Caroline Street, 305-294-1304

Restaurant Store*, 1111 Eaton Street, 305-294-7994

Royal Furniture*, 3326 N Roosevelt Blvd, 305-204-5509

Swimming Pool Maintenance

The Pool Man*—Danny & Paulette Rezendes 305-240-1463

Aqua Doc*—Steve Prior 305-293-9200

Keys Pool Service*—305-731-4448

Landscape Maintenance

Kenny Weschler* –305-304-2886

Native Landscape Design*—Scott Montgomery 305-393-5028               

*We know these contractors and vendors to be reputable from our past experience; this does not constitute any guarantees, warranties, or promises on our part for their future products or services. 

©2021 Kent J Ducote, PA