How do I check the furnishings and linens included with a boutique inn?
Ask for a room-by-room list of what is included, then walk the property with it and compare. Note condition, age and ownership, and make sure the final list is attached to the agreement so items cannot go missing or be argued about after closing.
Furnishings are easy to assume and easy to dispute. Ask the seller for an inventory by room and by common area, covering beds, mattresses, linens, towels, lamps, artwork, kitchen items and outdoor furniture. Then walk the property with the list in hand. Mark what is worn, what is missing and what is clearly personal to the owner rather than part of the business.
Ask about ownership. Some pieces may be leased, borrowed, consigned or belong to a family member, and those will not simply transfer. Linens deserve their own question: how many sets exist per bed, how often they are replaced, and whether laundry is done on site or by a service.
Take photos on the day of your walk-through, date them, and repeat the walk-through shortly before closing. Have your lawyer attach the final list to the letter of intent or purchase agreement so the wording is clear. Vague phrases like “all furnishings” invite arguments, whereas a signed schedule rarely does. Do not forget the small things buyers overlook: keys, spare bulbs, cutlery, appliances in the guest kitchen and the supplies in storage. A short checklist of these items spares an awkward conversation on the day you take over.
Key takeaways
- Get a written room-by-room inventory and check it against the actual property.
- Ask whether anything is leased, consigned or personally owned by the seller.
- Attach the final list to the agreement and re-check it before closing.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat is inventory
- 02Business Development Bank of CanadaGovernmentMajor pitfalls to avoid when negotiating a purchase agreement
- 03Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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