Care Homes

Care Homes Solicitors in Birmingham

Looking for the right residential conveyancing solicitor in Birmingham can be a difficult task, but as a dedicated team, our aim is to take the stress off you and offer you the right advice and support so that the entire process will run smoothly.

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Selling a Care Home

If you are thinking about selling your care home, you have come to the right place. Selling any business is a difficult decision to make, as you have put everything into making it a success and it has formed part of your life for many years but with all the CQC requirements and regulations selling a care home, has to be one of the most stressful transactions. You have built up credibility and relationships across the community and saying goodbye is going to be difficult.  

Whatever the reason for selling your care home, whether it be to retire, release some funds to start a new business venture, or you have had enough of all the hurdles you face by CQC, rest assured that we as care home specialists, who understand all the challenges of the care home industry, will guide you through the process and minimise any stress.

We have business owners all over the UK sell their care homes and our specialist commercial property team will work with you to ensure the smooth handover of the premises.

What fees do I pay

As care home specialists, we can provide you with a fixed legal fee, where most firms are still charging by the hour. This gives you the peace of mind that your legal bill is not going to spiral out of control.

If we can help you, please contact us today. The sooner we become involved in the sale process, the smoother the process will be.

How long does the process take?

If all parties involved raise and reply to enquiries accurately and without delay, we aim to complete the process within 8 to 12 weeks subject to the buyers CQC registration which can take 10 weeks.

How can you speed up the process as the seller?

As the seller you will be required to respond to enquires raised by the buyers. This is known as due diligence. You will be asked various questions about the property, fixtures and fittings, equipment, occupancy rates, staff, accounts, contracts and insurance etc.

It is important that you have this information to hand, as you will be required to provide evidence to go alongside your answers. This information is then uploaded to an online data room and shared with the buyer’s solicitors.

What are the key legal stages?

Week 1 

Memorandum of Sale – this will include the agreed sale price, parties, and advisor details.

Week 2 

Due Diligence – enquiries raised by the buyers about the care home and property.

Week 4 

Due Diligence Replies – your replies as the seller will be sent to the buyers’ solicitors for consideration.

Week 5 

Sale Agreement – this includes warranties, statements confirming what is being sold and restrictive convenants that stop the seller setting up a care home nearby.

Week 8 

Disclosure Letter – your chances to set out exceptions to the warranties.

Week 9 

Exchange of contracts – this makes the sale legally binding.

Week 12 

Completion – handover of monies and signed contracts.

Buying a Care Home

Buying a Care Home in the UK can be very financially rewarding, especially for those with sufficient funds to invest. But what is the catch?  Buying a care home, is very complex, from Care Quality Commission requirements, the location, property queries and staffing issues. Rest assured, our knowledge and expertise within this sector will ensure the process is smooth and as stress free as possible.

The care home sector is a highly regulated industry and those buying a care home must comply with strict requirements set by the CQC. As experts within this sector, we fully understand their requirements; therefore, we can hit the ground running and deliver solutions not problems.

We have helped many owners all over the UK buy care homes.

What fees do I pay

Buying a care home is going to be one of the biggest financial transactions you will be involved in. Therefore, we understand that you are looking for solicitors who are transparent with their legal fees so you can set a budget from the offset.

As care home specialists, we can provide you with a fixed legal fee, where most firms are still charging by the hour. This gives you the peace of mind that your legal bill is not going to spiral out of control.

Where a commercial property is involved, you will need to cover third party costs, these are known as disbursements, and include searches, land registry fees and bank and other checks, and these will be advised at the start of the process by our commercial property specialists.

If we can help you, please contact us today. The sooner we become involved in the purchase process, the smoother the process will be.

How long does the process take?

If all parties involved raise and reply to enquiries accurately and without delay, we aim to complete the process within 8 to 12 weeks subject to your CQC registration.

How can you speed up the process as the purchaser?

As the buyer you will need to apply to Care Quality Commission for a new registration, if you have not already got one. The earlier you do this, the quicker you can complete the purchase. The CQC registration takes 10 weeks, that is if you comply with their application process and timelines.

What are the key legal stages?

Week 1 

Memorandum of Sale – this will include the agreed sale price, parties, and advisor details.

Week 2 

Due Diligence – enquiries raised by us the buyers about the care home and property.

Week 4 

Due Diligence Replies – wait for the seller to respond to all enquiries for us to consider and make further comment if required.

Week 5 

Sale Agreement – this includes warranties,statements which confirm what is being sold and restrictive convenants that stop the seller setting up a new care home nearby.

Week 8 

Disclosure Letter – exceptions to the warranties for you to review.

Week 9 

Exchange of Contracts – this makes the sale legally binding.

Week 10 

Completion – handover of monies and signed contracts.

Speak With Our Expert

Jas Singh

Director – Corporate and Commercial Law

Email: Jas@pickfordsolicitors.com

Phone: 0121 726 5982