1. Connect with Us

The first step in our process is getting to know one another. We want to make sure that our services will be a good fit for what you are looking to accomplish. We will go over questions such as: number of bedrooms, SQFT, how long as the business been running, what is your average rate per resident, when are you looking to sell, etc. Reach out to us through call, text, email or by filling out our survey attached below!

2. Schedule a Time for us to Tour Your Home

If your assisted living home meets our criteria, we will schedule a time for us to come see your home. Before we are able to give you an evaluation of what we believe we can sell your business for, we require seeing it in person so that we can get a better feel for your day to day operations, level of care for your residents, property condition, size of bedrooms, etc. We will speak with you either in the backyard or off property to ask any other questions that we have regarding the business to maintain confidentiality before going to evaluate. This is a great chance for us to meet you and gain a better understanding of your future goals inside or outside of this industry.

3. Providing Proof of Profitability

After seeing the home and deciding if we wish to move forward, we will ask for some numbers. What specifically does that mean? We are looking for rent rolls (a list of what each resident has been paying for the past few months), profit and losses (at least one year) or tax returns if you have those handy. In order for us to provide an evaluation that is accurate, we need to make sure that the numbers stated are correct. The reason we need these numbers is because potential buyers are looking to finance these purchases and banks are going to require proof of profitability in order to lend on the home.  

4. Evaulation of the Business

After reviewing the financials on your home we will evaluate the business and real estate and we will let you know what we think we could sell the home for. 

5. Listing Presentation

We will schedule a second meeting to go over our evaluation. At this time we will discuss the process of listing the home, what showings will look like, and how we will market the home. We will bring paperwork to be signed in order for us to list the home at a price and length of term we all are in agreement on. 

6. Scheduling Showings

We have a large network of buyers for assisted living homes and we are very selective about who we work with. Our time is very valuable so we do not waste our time showing a listing to someone who can not buy your home. We only bring qualified buyers through your home. When we show your home, confidentiality is of the utmost importance. One of us will always be present at the showings to reinforce this with prospective buyers. We will act as placement agents showing the home. There will be no talking of the business inside the home. After the tour, depending on your preferences buyers can ask us questions or you can sit down with them at an offsite location. 

7. Accepting an Offer

We will present to you all offers that come in to us, whether they are verbal or in writing. Throughout this process, it is important that we listen to the market. Buying an assisted living takes a large amount of work. Buyers need to have financial strength and willpower to make it through the loan process. It is important that you have confidence in and feel comfortable with the potential buyer. Once we have received an offer with terms that are exciting to you then we will move forward to accepting an offer and getting all necessary documents signed.

8. Getting to the Close

These sales are not like residential sales. It is not a typical 30 day close, and 10 day inspection period. It is a commercial sale and A QUICK CLOSE WILL TAKE 3 MONTHS. Oftentimes, these sales can take 3-5 months while the buyer is securing their financing. It is extremely rare for a buyer to be paying all cash, and if they are they will still ask to see proof of profitability and may expect a discount. Most buyers are going to get either an SBA loan or a commercial loan and it takes time to secure lending on assisted living homes in particular. We will help you navigate the process as we have been through it many times. The nitty gritty details that go along with this type of business changing hands is our specialty and when things come up, we are there to help the process continue moving forward toward the finish line. 

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