Diesel

Member of the family been quoted 3.75% to sell a care home business. Seems a bit steep to me as it’s a high-ish value property/business.

They offered to do it for 3% if £900 was contributed to advertising costs every 6 months – cake and eat comes to mind!

Seems way off ‘domestic’ selling rates – anyone any experience?

SupaMiniCupa

My VERY limited knowledge of commercial property in the dim and distant past tells me that Care Homes wouldn't be touched by some lenders etc and that the market for them was bad...?

Maybe they're just charging a high % so its worth their while trying to sell?

Account deleted by request

I do a bit of work in this field and to be honest for a DECENT agent this is how much you will have to pay. Its very different to residential sales so there is a good chance that you will have to pay for advertising (very standard in commercial sales) but I would pay a higher commision to make sure they have got the incentive to sell the property. If they are prepared to take this deal they will be VERY confident of achieving a sale.

Ask to see their portfolio of sales in similar properties - this should at least show you they are capable of dealing with a care home as it is a very specalist field.

What part of the country are you in as I may be-able to recommend someone?


chopper.

richardg

would agree with chopper.
if it's being sold as a business, i know a couple of operators we have bought sites from in the past. they will pay an introduction fee (to you) rather than the seller paying agents' fees. alternatively, if it's a redevelopment opportunity, we may be interested ourselves. if the owners would be interested in talking to me, please let me know. if it's not for us, then it may work for someone i know

Reffro

Not Christie & Co. that was quoting the rate was it??

Diesel

Thanks for the replies chaps - didnt want too be too ' 'ow much' about it all as I know there is more to handling this sale than pointing out the handy double sockets in the kitchen

Richard if you are genuninely interested kindly PM me your company name and site and I'll bell you to see if you can offer further advice or services.

Chop, this is in Essex, by the sea. Nice.

Cheers

D

PS Reffro - do you do palms too?

Account deleted by request

Have you tried Hamptons International ?

I have heard pretty good things about them when dealing with Rest Homes ?


Chopper

richardg

YHPM

Reffro

Sorry but my palmistry isn't what it used to be, but I'm a wizard at tea leaves.

It also helps that I used to work for a company now called Christie First, who are the finance & insurance arm of Christie & Co........