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What do you think?

Discussion in 'Business Operations' started by lawn, Feb 15, 2011.

  1. lawn

    lawn LawnSite Senior Member
    Messages: 344

    As you all know I am in the process of selling my business. I have a guy that is been trying to buy it from me for a long time but so far nothing in paper.
    I got a call again from this guy saying that this time he is serious and has a partner that will put down 100K the rest of the money to be paid in a few months and then in December or so or however we agree to it.
    Lots of questions are going in my head which I will need your input on it.
    1) How do I negotiate the balance?
    2) He probably wants to give me a deposit and take over the business, what happens of he loses clients, does not run well the company and won't pay me?(He said that I can hold tittles of vehicles and they will pay me).
    4) what options do I have? any tips will be much appreciate it.
    Thanks guys!:drinkup:
     
  2. lawn

    lawn LawnSite Senior Member
    Messages: 344

    Sorry... I forgot....

    My idea is to get the deposit, I will keep the business until they finish paying me or at least when they paid 75% of the price.

    what do you thinK?
     
  3. lawn

    lawn LawnSite Senior Member
    Messages: 344

    :hammerhead::cry::drinkup:nobody has an opion?
     
  4. Puttinggreens

    Puttinggreens LawnSite Senior Member
    Male, from southeast PA
    Messages: 398

    We have opinions, but your best bet is to speak to a lawyer who handles these type of transactions regularly. It will be money well spent.
     
  5. walker-talker

    walker-talker LawnSite Platinum Member
    from Midwest
    Messages: 4,771

    If your business is worth over 100K, I would not seek advice here....we're just like you. You need everything in writing and need a lawyer. That's my opinion.
     

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