In order for us to determine if there is an interest in a particular location we typically follow this process:
We will provide a confidentiality agreement at any point in the process that the seller feels it is neccesary.
1. Initial Contact-During the initial contact we like to find out why you are selling, how many families you serve annually and your annual revenue, if it sounds like we both want to move forward, we will send you out a funeral home survey, or you can print the one on this site and fax or mail it back to us.
2. After we have reviewed the funeral home survey, and financial information we will discuss our intial valution with you and possible terms. If we are in agreement, we will issue a Letter of Intent (LOI) so everyone's intentions are in writing. If we can not agree on price and terms, then we can end our discussions there, we will wish you luck and continued success and we will be on our way. When we receive the executed LOI we will set up a time for one of our principals to do a site visit.
3. If everything goes well at the site visit, we will instruct our attorney to begin drafting a purchase agreement. While our attorney is drafting the purchase agreement, we and our lender will begin formal due diligence. During the formal due diligence period we will verify all the information that we have been provided with, we will inspect contracts and records, verify/audit preneed accounts, get a list of all furniture, fixtures, equipment, vehicles, etc.. The lender will order Real Estate Appraisals, Phase 1 Enviromental Studies, property survey's, 3rd. Party Business Valuations, Building Inspections, etc.. We will do our best to work around your schedule and not disrupt your business.
4. If everything goes well with the due diligence, we will set a closing date and wrap up any loose ends before closing.
This is a general outline of what typically occurs. Due to the nature of the industry and the unpredictable schedule of a funeral home, it may take 30-90 days to complete everything, or longer if a problem is discovered during due diligence.