Personal and professional concerns surround the sale of an Alzheimer's care facility. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your Alzheimer's care facility a success.
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There are still plenty of Alzheimer's care facility buyers looking for opportunities that present well in the marketplace.
Hoping for a quick Alzheimer's care facility sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your Alzheimer's care facility, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized Alzheimer's care facility buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
It's obvious that you're going to need to hire an attorney to finalize the sale of your Alzheimer's care facility. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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