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COMMON QUESTIONS
Question: Am I under any obligation working with
Saint Louis Group Business/Sunbelt? Who pays the broker’s commission?
Answer: As
a prospective buyer, you are under no obligation to Saint Louis
Group Business Brokers/Sunbelt. In the event of a sale, Saint Louis Group
Business Brokers/Sunbelt commission is paid entirely by the seller; and
a nominal closing fee will be split by the buyer and seller at Closing
and paid to the neutral Escrow Attorney.
Question: I’ve never owned a business before, what
kind of training is available for new business owners?
Answer: One
of the greatest benefits of buying a small business is that in almost
every case, owner training is included in the sale of the business. The
terms of owner training are a standard consideration in the Asset
Purchase Agreement.
Question: Can I bypass the broker and deal directly
with the seller?
Answer: The
seller has hired Saint Louis Group Business Brokers/Sunbelt, therefore
all dealings must proceed through the Broker with NO exceptions.
Question: Can I hire Saint Louis Group Business
Brokers/Sunbelt to help me buy a business?
Answer:
Saint Louis Group Business Brokers/Sunbelt represents sellers
exclusively. However, our comprehensive system is designed to provide
qualified prospective buyers with every tool and assistance they need to
buy a business.
Question: How is it to my advantage to deal with the
Saint Louis Group Business Brokers/Sunbelt company?
Answer: Our
job, in a nutshell, is to bring business sellers and business buyers
together and do everything necessary to facilitate a smooth and
successful change of ownership. Our experience, our system, our
resources, and our skill at matching buyers with the right business are
available to qualified buyers at no cost.
Question: Why not a letter of intent?
Answer: A letter of
intent is used to remove a business from the market while the buyer
reviews business records and prepares an offer for the business.
Meanwhile, all promotion of the business is essentially stopped. At
Saint Louis Group Business Brokers/Sunbelt we DO NOT use a letter of
intent. We provide a package of business records and information prior
to making an offer. Our Asset Purchase Agreement, which is specifically
designed for these transactions, and is supported by the closing
documents, is used to present offers and counter-offers.
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