What Sellers Like to See
 

Buying a business is not easy and you will have questions and concerns. Thus, selling a business creates just as many questions and concerns for the seller. You can often get significantly better price and terms by being aware of the seller's needs and removing some of his or her uncertainties.
 

1. Resume and Financial Statement.

The more information the seller has on your past experience, qualifications and financial situation, the more likely he/she will accept an offer you make. By extending financing to you, the seller is acting as your banker, and he needs to feel comfortable with you. Remember, once the seller accepts your offer he is committed, but you still have contingencies to remove before moving ahead.
 

2. The Offer.

A good offer is one that realistically satisfies the needs of both buyer and seller. Sometimes that results in an offer which is quite different from the listed price and terms. Your agent will help develop a win-win offer.
 

3. Reasonable Down Payment.

Every buyer wants to conserve cash. But, a very low downpayment can indicate a buyer's lack of commitment to the business. The number one concern of sellers is the safety of taking a note from the buyer. If the seller questions a buyer's commitment of seriousness about the business, the seller may not bargain seriously with that buyer.
 

4. Quick Removal of Contingencies.

It's to everyone's advantage to proceed through the contingency removal phase in a quick but thorough fashion.