Prequalified Buyer™ Overview
CCN’s Prequalified Buyer™ designation, was created to provide Aspiring Innkeepers a way to document how much purchasing power they really posses to assist them to identify hospitality properties that best fit their financial qualifications and investment objectives. The designation, certifies that a review has been conducted according to generally accepted commercial underwriting guidelines, by verifying the identities, professional qualifications, personal assets, liabilities, income and credit of all partners who will have an interest greater than 20%, and has determined a range for which financing could be obtained assuming the historical performance of the business would support a reasonable level of financing relative to its anticipated/appraised value. CCN’s certification process satisfies the concerns of both realtors and sellers because it identifies a conscientious person or persons as having submitted the proofs and documentation necessary for verification prior to seriously entering the market. The buyer’s qualifications can be well established and certified by