Selling Senior Housing and Assisted Living Facilities

Deciding to sell your senior housing or assisted living business can be a difficult decision.  For many business owners, this may have been your life’s work. You’ve invested sweat and equity and have emotional attachments to both your residents and staff. It can be a time of mixed feelings and transition.  We at Haven Senior Investments understand this human component of the sales process. We also have the financial and market expertise needed to successfully maximize the asset value in the sale of a business.  We use a team approach to leverage the skills and experience across our whole team for each project.  While every property and business is unique, the process below is a good indicator of what to expect.


The important first step in the process is to get a good understanding of the assets involved, both the location and physical properties of the real estate, and the financial condition of the business. We will provide you with a list of items needed to help us gain a full understanding. Some of those items include profit & loss statements, occupancy rent rolls, payroll information, floor plans, and more. During this analysis process, we will provide an Advisory Engagement Letter, which fully states our role in the process and provides privacy and non-disclosure protection. Some sellers engage us long before they are actually ready to sell as during this process we may make suggestions to increase asset value, and some of these suggestions take time to implement. The choice is always up to the seller. We will share our assessment of current value and also where we see potential to add value if we feel it will enhance your sale.


When you are ready to sell, we move into the marketing process. Together we strategize to achieve your stated objectives always taking into consideration timing, privacy, price, and process. At this step, a state-regulated property listing agreement will be signed by both parties to ensure full transparency at all times. Sellers are never tied to long-term contracts with us or our broker partners. All parties must be satisfied always or it’s not a win-win.

Marketing plans vary widely depending on the seller’s particular goals. Marketing plans may be very targeted and discreet or they may be bold and large. We may target a niche sector of buyers or cast a wide net. Whichever method we choose to employ will be the result of a collaborative process with our team and the seller, always working to achieve the seller’s specific objectives. Each marketing plan, however, will access our database of qualified assisted living buyers.  Haven Senior Investments’ website experienced over 80,000 visitors this past year with over 750 buyers specifically asking for our help with acquisitions.

Bidding and Contract Process

Offers are usually submitted in the form of a Letter Of Intent (LOI) drawn up by the buyer or their representative. HSI will work to qualify the buyer and help review the pros and cons of each offer in order to respond accordingly. When an offer is accepted the seller will engage a real estate attorney to draft and negotiate contracts for the transaction. These contracts may include purchase and sales agreements, interim-management agreements, and lease agreements. HSI will work alongside your legal counsel to ensure a smooth process throughout the entire transaction. Once the contracts are signed by both buyer and seller, the transaction moves into the Due Diligence Period.

Due Diligence Period

The due diligence period usually extends for 30 to 60 days after the signing of the contracts. At this time the buyer deposits a pre-negotiated, refundable cash deposit into escrow. The due diligence period is the time allotted for the buyer to formally investigate the real estate assets and review the financials of the business. During this time the buyer and/or their lender may also perform studies conducted by a third party, such as an appraisal, environmental study, property condition assessment, or survey. The buyer has the option to cancel the contract at any time during the DD period and receive a full refund of their deposit. This may happen if the buyer discovers something that contradicts the original information that their analysis and offer were based upon. If the investigation warrants it, transaction prices can be renegotiated. Once the due diligence period expires, the buyer’s deposit becomes non-refundable and the transaction moves toward a closing.

Closing the Deal

In the final period of the transaction process, all loose ends are tied up by the attorneys, and any outstanding items necessary to close are satisfied. When this is complete, the buyer’s funds are wired to an escrow agent. Once the documents are executed and finalized at the closing table, the escrow agent distributes the funds. The new owners are recorded with the county as titleholders and the escrow is closed.

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