I have been assisting a business buyer with business purchase financing for over 6 weeks on a specialty manufacturing company. I started analyzing this deal for the buyer for financing and general deal structure over two months ago. Paperwork has been coming to me in dribs and drabs.
I warned this client that if he didn't pick up the pace in his quest for this deal he would probably lose it to another buyer.Sure enough I got a call today from the buyer's wife today informing me that they got a call from one of the owners in who told them that "their time was up" and that they were officially putting the company on the market!
If you have a deal you are truly interested in, move quickly, stay focused, and keep the paperwork and communications rolling. Otherwise you can expect a call from a broker or seller telling you, "your time is up"!•
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