You have successfully owned your assisted living facility (or ALF for short) for years now, but maybe you’re looking to sell for any number of reasons. But where do you begin? There are multiple factors to take into consideration when selling your residential care facility, and having a clear sense of the direction you want to take can help tremendously in getting your ALF sold quickly. Read on to find out what those factors are and where to find an ALF brokerage firm right here in Florida.
Key Factors to Consider
Whether you’re only in the planning phase or ready to fully commit to selling your residential care facility, you’ll still want to make sure you’re aware of all the components involved. Selling your ALF can be a daunting task and ensuring you have all the information needed will make the transition that much smoother.
The first major factor is pricing of your ALF. If you are looking to sell the facility quickly, you by no means want to overprice your ALF. You want a reasonable asking price for your facility to draw in that attention, and hopefully a buyer. If you go too high on the asking price, buyers will pass it over quickly in favor of cheaper facilities.
Even if you do eventually lower the price, the original buyers who passed it up may not realize this and not circle back, losing more interest overall on your ALF. Some buyers may see the price drop, but wonder if they can wait and see additional price drops. Most buyers now are particularly adept at seeing market values and aren’t going to jump on any properties right away, leading more with their wallets than their emotions. You most likely won’t be able to get a higher price for your ALF randomly, therefore sticking to a reasonable asking price will save you time and headaches later on.
The Legalities of Assisted Living Facilities and Selling
Before you begin the actual process of selling your ALF, you will want to speak with an accountant and an attorney. Talk with your accountant first to make sure you understand the tax implications involved in selling your facility and to answer any other questions you may have in the process.
Talk with your attorney as well to ensure they are right to handle your residential care facility for sale. Your regular attorney may not have direct experience in healthcare real estate sales, so you may have to seek out another attorney to help you through the process. Your attorney may have recommendations or you may have to start a search yourself.
Lastly, you’ll want to hire a broker that can help you sell your ALF quickly and efficiently. Your broker can help with pricing your facility and answer all the questions you may have throughout the process. A good brokerage company will have brokers throughout the US, ready to call any and all potential buyers for you to aid in the sale of your facility. And depending on your preferences, some brokers may not keep the sale of your ALF quiet, so if you want discretion, make sure to do your research on broker companies.
Contact Us
You’ve made the choice, and the choice is to sell your assisted living facility. Now onto doing research and finding the company that’s going to help you sell your ALF. Call ALF For Sale today and get the experience you need to sell your facility headache free! ALF For Sale in Florida has licensed real estate agents ready to help from anything to paperwork, pricing and code expertise, to documentation storage. We are your one stop shop for buying and selling your ALF confidentially, quickly and professionally!