A Step-by-Step Guide on How to Respond to a Pub for Sale Advertisement
If you are in the market looking for a pub to buy, then you are most likely looking at advertisements in newspapers, social media and notice boards. But what happens when you finally stumble on a pub for sale advertisement? Below is a step-to-step guide on what you should do before making any final and permanent deals.
Get the full description
Most advertisements will put in the necessary information on their notice so as to allow a buyer to decide whether or not they are what they are looking for. Read the full description including location and price. Avoid notices with vague or no information because they might be a swindle. You can use the location given on the pub for sale notice to countercheck on Google Maps if indeed there is a pub there. Then take the contacts given and give them a call.
When calling the pub for sale advertisers, introduce yourself and make your interest known as soon as possible. Do not jump to set a meeting date before asking important questions. The first being whether you are dealing with the pub's owner or hotel brokers. If it is the latter, ask what their terms are. If the conditions are agreeable to you, then go ahead and set a meeting date and time. Make sure to choose a day that you do not have other commitments because the site viewing could take a longer time than expected.
Arrive on site earlier than the agreed time in order to get your own time to look around. Try to see whether the idea of the place makes you happy. When the hotel brokers or owner of the pub for sale arrives, take time to understand all they say. Ask about the history of the pub and why it is being sold. Go for an inside viewing and check the condition of the pub for sale. Look for damages and strengths. Make all your concerns known. Ask if the repairs, if any, will be your responsibility or the owners'. Before the end of the meeting ask for the price and whether or not it deductible. Do not give any final decisions on the first day.
Get advice from your family, friends and financial advisors about purchasing the pub for sale. Make sure you have a clear plan and strategy for the potential business. See whether the pub for sale is going to be profitable or an unnecessary risk. Once you have a decision, call the hotel brokers or owners, and let them know.