So you want to be the owner of a lodging property? Whether you want to own an Inn, B&B, Hotel, Motel, or another type of lodging property, Vermont is a very special place to live and be in business. Vermont Lodging Properties, a Lang Associates firm, will help you find a property that fits both your life and business styles. We will provide you with the best service in the industry.
Why choose Lang McLaughry Spera Associates Realtors?
- Some brokers will only show you properties that they have listed and many hospitality brokers do not participate in the Multiple Listing System.
- By choosing Lang as your buyer-broker, you will be presented with properties listed not only by Lang, but by other brokers, as well as properties that are for sale privately, by owner.
- In our efforts to find you the right business opportunity, we will also contact properties that are not currently on the market.
Having been in the lodging business ourselves for many years, we are in a terrific position to coach you through the sometimes complex process of purchasing a lodging property. Here are some of the issues that our consulting style can address:
Identifying the right type of property
- Read this article from the Wall Street Journal about owning B&B's
- What are you looking for - an Inn, B&B, Hotel, Motel, Cottages & Cabins, or another unique lodging property?
- Management style - do you want someone else to manage the property for you, or is this going to be a business you will manage yourselves? Are you looking for a career and lifestyle change?
- Vermont has an enormously varied topography - where do you want to be? Do you want to be in a rural or urban location, in the mountains or lakeside?
- Do you wish to operate year-round or seasonally?
- Identify compatible properties and stay in them. How do they feel?
- Financial considerations include return on investment objectives, the sale of another property, qualification for mortgages, the possible need for Small Business Administration or Vermont Economic Development Authority support or seller financing and lease purchase options.
Negotiation and Purchase
After an appropriate property has been located, we will:
- evaluate the financial viability of the business with you;
- negotiate a fair and equitable purchase and sale agreement;
- coordinate and oversee property inspections and appraisals;
- communicate closely with attorneys and lending institutions in order to circumvent problems before they arise;
- determine the nature and length of your training requirements;
- provide introductions to the local community, merchants and other people in the industry after closing;
- propose a toast to your success!!!