About This Blog
 |
Peter Siegel, MBA is a nationally known consultant and author - with over 25 years experience on the topic of selling, buying, and niche financing (the purchase of), small to mid-sized businesses. His clients include: business buyers, business owners/sellers, small business advisors, business brokers, and agents. Mr. Siegel can be reached directly by phone at (925) 830-3447. |
|
This Blog contains observations, tips, news, events, and case studies relating to selling or buying a small business. |
|
This Blog is ideal for business buyers, business owners, advisors, business brokers & agents. |
Categories
Disclaimer
|
Opinions expressed on this site do not necessarily represent those of USABizMart. |
|
Opinions expressed here do not constitute legal advice. Those interested in specific guidance for legal matters should seek competent professional advice. |
|
11/5/05
Now It's A Waiting Game
I introduced my buyer to my employees and hung the ABC sign today. He also had an interview with the oil company execs. According to him, he felt that the interview went well. The buyer and his wife are going to the C-store training next week and will be gone for two weeks.
We have not resolved the $100K note that the bank wants me to carry, but I am waiting until the buyer is a little more committed to discuss the issue. Right now it is kind a of a waiting game. Comments & Advice From Peter:This time period is always kind of crazy for sellers! Make sure you are still talking to potential buyers throughout this process . . . The buyer sounds committed but you never know what can happen until you get the final check in hand.
If I were you I would try to resolve the issue with the $100K seller carry note. It could be an issue at the end of the deal. You may want to explore this with the bank now. When I secure financing for deals I will usually show the potential lender the interim financials, especially in your case since the numbers look really good for this year. This may alleviate you having to take back the note!• Technorati • del.icio.us • Digg It • Furl • ma.gnolia • Spurl • Yahoo MyWeb
|
|
|
Submit Comment:
|
 Comments:
|
Back To USABizMart Blog
|
Search This Blog
RSS Feeds
Recent Posts
Recommended Sites
|
