Wednesday 26 February 2020
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Selling a Care Home

To achieve a successful sale of your business, certain important information will need to be provided. Basically, this would mean producing information regarding the trading position of the business and would include items such as the latest income and expenditure accounts to include up to date management figures, a resident`s fee list, and confirmation of the current staffing levels, including weekly or monthly wage details.

With regards to achieving the best price, it would be wise to market your Home when the business is trading on, or close to its full potential. Although resident numbers do vary throughout the course of the financial year, it would be ideal timing to market the Home when occupancy levels is at its highest.

It is also important to try and sell the Home when meeting the 5 main CQC standards. However, this is not always possible due to tightening industry standards or simply because of human error for example, but by providing an ongoing action plan or confirming that the issues are being addressed, a sale can still be achieved.

Invariably, an Owner will need to instruct an experienced specialist agent who will assist in the sale and monitor this from start to finish. It is important to have good communication on a regular basis with any agent and solicitor, particularly in dealing with any points that might arise throughout the selling process. The decision to appoint an established agent is an important one and areas to consider when making your decision would include a proven track record of selling Homes nationwide, with full discretion and confidentiality.

Should you wish to have an initial discussion with a recommended specialist agent and a selling fee of just 1% with no VAT please contact David Hunt through the following link.