The Florida Liquor License Exchange
Toll Free: 1-866-755-2427
These are the “10 Steps” that we generally walk Buyers & Sellers through for a transaction involving a Florida Quota Liquor License:
1. Execution of a Purchase Agreement by both parties:
A. Seller’s Offer to sell at a set price – inclusive of transfer fees.
B. & Buyer’s Acceptance at a total price – inclusive of brokerage commission.
2. After Execution, the Buyer also posts within a few days an Escrow Deposit (Usually 15-20%) to take the license off of the market.
3. Accordingly, the Quota Liquor License is then taken off of the market and a closing date is set - usually within 30 days, at the Buyer's discretion.
4. Details regarding both parties & the License itself are then exchanged.
5. We then get the Seller to execute a Bill of Sale, a Transfer Affidavit & other Affidavits that become part of the DABT Transfer Application packet. We hold these items in Escrow until closing.
6. The transfer fees, if applicable, are calculated - payable by Seller as a deduction from Seller’s proceeds at Closing.
7. The pro-rated license fee (DABT annual license fee) is calculated, payable by Buyer to Seller at Closing as a reimbursement for fees already paid to DABT for the balance of the existing license year.
8. At Closing, Buyer delivers through us a cashier's check or official bank check (or Wire Transfer) to Seller for the balance due for Purchase Price + pro-rated license fee and an executed copy of the Closing Statement.
9. At Closing, we provide Buyer all of the required Transfer Affidavits to be used with the DABT License Transfer Application packet and a Bill of Sale and an executed copy of the Closing Statement.
10. We then assist the Buyer in submitting the Transfer Application packet to DABT as required... Buyer can place the license in Escrow or if a location is ready, Buyer can request an immediate Temporary License to begin to conduct business.