Checklist for Preparing Your Motel for Sale

Motel in VictoriaWhen you want to sell something, it is obvious to present it in its best state. For example, selling a car or house will need proper tidying. This is no different to offering a motel for sale in Victoria; you need to ensure that you present it physically well. Issues related to leases, financial accounts and other documentation should be sorted in advance.

Leases

The majority of the motels for sale in Victoria operate by leasing; making the lease important in any motel selling process. Consult an experienced motel broker to rectify anything that is offside on the lease. Also, landlords depend on rental reviews to determine the capital value. During this rental review period, try to strike a deal to lengthen your lease with a rental increase maybe. There are other issues beyond the lease and an expert eye will help iron out things.

Keep Record

Keep a good record of all improvements to your business: marketing initiatives and physical improvements, notes an expert from Resort Brokers Australia. The improvements could also include any setup networks that may enhance future prospects. Anyone looking to buy a motel will need to see what there is and any efforts to improve.

Think Wide

It is good to think about anything that may hold the sale process. Get all your documentation ready: financial statements, GST returns, and the progress of the business in comparison to the past year. A motel broker can help in this and is particularly good in painting the best picture of your business.

A Valuer’s Report

You can also get a valuer’s report for your motel for sale in Victoria. A valuer’s report is an independent person and usually supports the asking price.

As you prepare to sell, keep in mind that a business will experience scrutiny from professional advisors and purchasers. It will help you determine the best way to present your business and make your entry to a great sale.