Wednesday, September 24, 2008

Jerry Dombowsky - Questions to ask when Buying or Selling Hotels and Motels

If you’re looking for a new accommodation property and are a current property owner, what is your strategy?

Do you wait to find the accommodation property suitable to your needs before you put your existing property on the market, or do you sell first then begin the search process?

When is the best time to purchase or sell a property? The best time to purchase is when YOU WANT TO BUY; the best time to sell is WHEN YOU WANT TO SELL.

Do you let outside forces dictate your decision? If the current property is an asset sale, due to taxation regulations, your new property must be purchased within one year of the final sale date of your current property. If the current property is a share sale, all financial statements must be in good order and filed with the appropriate agencies confirming that all documentation is in good order.

Many documents must be examined when purchasing a property. The main documents are: analyzing the financial information and obtaining suitable financing.

If there is more than one partner, do you have a Buy-Sell Agreement in place?

If one of the partners dies, how do you pay out the heirs?

For assistance with these questions and many more contact Jerry Dombowsky of Premier Hotels and Motels.
Jerry Dombowsky
Premier Hotels and Motels - The Connections to close the deal

#6-3185 Via Centrale, Kelowna,
British Columbia V1V 2A7
Phone: 250.717.1886
Fax: 250.765.0577
Toll-Free: 1.866.765.0579

Hotels for Sale Motels for sale

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