Buyers for care facilities can realize their dreams of owning their own facility in a number of ways. If they are lucky enough to own their own home, they can spend some amount of money to convert the structure with minor renovations such as build ramps, install grab bars, etc. and after getting a new license approved, proceed to the hard part – finding clients and building a reputation. For some people, it is quick; for others, it takes time. They need to make sure they have enough reserves to tide them over until they get their first paying resident.

Caregivers working at a facility sometimes end up buying from their employer. If you go this route, make sure you get professional advice from your accountant and attorney if you decide to negotiate directly with the owner. Ordering property inspections and appraisals will also ensure that your purchase is worth the price you will pay for it.

Most Buyers and Sellers work with a real estate broker – a realtor who mainly sells houses isn’t necessarily the best choice. Make sure they know how to handle the business transfer as well as help you with mortgage or Small Business loan financing.

REASONS TO BUY CARE FACILITIES

Why do people buy care homes? For different reasons.We found the following to be true in many cases:

1. To care for a relative at home.
2. To have an additional source of income.
3. To be self employed and not work for an employer.
4. To afford a home purchase and the expenses associated with home ownership.
5. To have full control over housing expenses (versus leasing, where the Landlord has control over the monthly lease payment amount).
6. To benefit from the tax advantages of owning a home and running a business.
7. To benefit from investing in an appreciating hard asset – real estate.
8. Because of compassion and a desire to help.

Health care facilities are playing a greater role in the aging of America. With advancements in medicine and better diet and nutrition, many are living longer and healthier lives. As they age, many begin to need assistance with the activities of daily living – and they find such help in residential care facilities.

California has a thriving health care industry composed of the large institutions as well as the family-run operation. For different reasons, operators decide at one point they need to sell. For different reasons, Buyers also decide they are ready for a business of their own.

Ownership transfers of care facilities are a complex process, involving the sale not just of the real estate but of the existing business as well.

Working with a real estate professional who is experienced and knowledgeable in the many aspects of such a transaction will ensure a successful close. Sellers can expect the facility to be competitively priced, marketed in confidence but effectively to the right buyer/investor pool, and be assured that all real estate regulations and disclosure requirements are met.

Buyers in turn, can expect assistance with their care facility search, specialized financing options, and even the licensing application process. This “hand holding” is especially critical for first time care facility buyers, who may not be as familiar with all the steps involved in buying a care facility.

There is no substitute for expertise, especially when buying or selling one of your and your family’s major assets and source of livelihood.

If you are ready for a change, would like to buy a care facility and would like to work with a real estate professional specializing in the purchase and sale of health care facilities, please call us. We can help with your search.

If you would like additional information on a specific listing, please click here to download our NON DISCLOSURE OF INFORMATION AND CONFIDENTIALITY OF SALE AGREEMENT, print, complete, sign and date, then either email to us as an attachment or return to us via fax. If you prefer, you could also download a PDF version here.

If you would like to be on our mailing list for future available listings or are looking for specific property to buy, please click here to download our CLIENT QUESTIONNAIRE, print and complete then email or fax back to us.

If you would like information on the licensing process, please call or send us an email so we can send you our pamphlet called "Facts You Need to Know About Community Care Facilities and Residential Care facilities (in California. )"

Thank you for your interest - we look forward to working with you soon.

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