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SELLERS’ FREQUENTLY ASKED QUESTIONS (FAQ)

How long will it take to sell my business?
It depends on several factors including asking price, bookkeeping, contracts and history. Businesses that are positioned to sell do so, with close of escrow (COE) about nine (9) months after signing a representation agreement.

What costs are involved in selling my business?
The broker's fee will be a minimum of $20,000 or ten (10) percent of the sales price if you use ProBizSeller as your broker. Escrow costs normally run $2,500 to $3,000 and are split by the buyer and seller. If you have other fees like franchise transfer and/or training fees the buyer typically pays those.

Can you help me get 100% of the sales price at close of escrow?
Maybe. Eight out of ten deals we've done in the past two years have been all cash to seller at COE.

Can you help me understand what I am selling?
Normally small business transactions are "asset sales" meaning you are selling the bulk of the assets owned by the business and delivering the business free and clear of any liabilities. Sometimes we start as an asset sale and convert the deal to a corporate stock sale.

How much involvement do I need to expect to have in the sales process?
You as the owner are a part of the sales team. It's the broker's responsibility to make sure that you talk to as few people as possible. Discuss their qualification process.

Call Rick Eggleton at 949-788-7775 to find out more!

 

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ProBizseller, Inc. DRE ID 01299066 - 4000 Barranca Pkwy Ste. 250, Irvine, CA 92604
Phone 949-788-7775, Fax 949-666-6619, e-mail rick@probizseller.com

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