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Selling a Bed and Breakfast
Selling a Bed and Breakfast is not like selling
a residential property! Our experience in both Real
Estate and Innkeeping can really make a difference in getting
the best price for your Inn. |
What will we do for you that other
real-estate agents won't do?
Review
your Property. We will carefully review your property and
business including Financials, Marketing, and Website. We can help
you a set a realistic asking price based on both past performance
and future potential. We will make suggestions to help maximize
your property value.
Prepare a Buyer's
package. We
will prepare a Buyer's package that will include important information
about your property and business, such as a detailed Property fact
sheet, Occupancy reports and graphs, Profit & Loss reports
for the last 3 years, and projection reports and graphs to show
buyers potential growth. And will make sure this information is
only made available to qualified buyers who've agreed to confidentiality.
Advertise your property. We
of course will add your property to the Multiple Listing (MLS)
so you get exposure to all active local real estate agents. But most importantly, we will actively
prospect for buyers for your Inn by listing your property on B&B
portal websites and Commercial Brokerage websites—at our
cost! These sites help you reach buyers and real estate agents
outside of Northern California. We know which of these sites work.
90% of our leads come from the Internet websites where we advertise,
not from the MLS! We will also advertise your property on our website.
Qualify your Buyers.
Why waste time showing your Inn to casual browsers that have no
real potential to buy your Inn? Before we show your Inn to any potential
buyer, we ask them to complete a financial statement. We carefully
review the information and work with the buyers to determine if
your Inn is within their purchasing power.
Showing your Property.
We will personally escort buyers through your property
and share with them our enthusiasm for your Inn. We'll help to
build excitement about the innkeeper lifestyle and be sure they
have the information they need to move forward toward making an
offer.
Review Offers.
We will help you review, evaluate and negotiate offers. We'll make
sure that the final contract includes specific legal clauses
that are essential to protecting you through the sales process.
Your business is more than just a piece of real estate, and we
know the details that need to be addressed in writing to help
ensure that buyers stayed committed.
Appraisal. Getting an appraisal
on a California Bed & Breakfast Inn can
be a major challenge. In today's market, a commercial appraisal
sometimes comes in significantly lower than the residential value.
We have worked with multiple appraisers in the area and we know
which ones best understand the local lodging industry.
Closing the Sale.
We'll
be right there, following up on every detail and tracking every
deadline to be sure that everything that has to happen, happens
when it should. We'll be sure the escrow company has what it needs
and we'll review the escrow papers before you sign to be sure the
numbers accurately reflect the contract agreement. After all, closing
is the whole goal!
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