When handling inquiries from Prospective Buyers I will give very basic information without disclosing the specific business only to create interest and then ensure the relevant documentation (Buyers Profile & Continently agreement) is in place before I would reveal any specific information of the business. The questions asked is to extract the necessary information required to qualify the prospective buyer and will include.
1.Do you have any experience in this type of business? If they say yes, I want to dwell deeper in that subject. Where, when, how long. I want specifics. If it was local, I will know that company or will be able to research to see if they are telling me the truth or giving me a line. I want to know if the Buyer is “REAL”. In all my line of questioning I am trying to determine if I want to spend my time with this Buyer.
2.The second question I ask is; how much liquid cash do you have on hand today? Can the Buyer afford my business? Many initial inquires will not be realistic feasible Buyers. I know how much money it will take to complete the sale, how much money, if any can be borrowed against the business. Why would I even want to give a Buyer the name and address of my business if they can’t afford it?
3.In line with the cash down payment, there might be other liquidities a Buyer has to purchase a specific business. Stocks, equities, property.
4.I will ask the buyer for proof of funds before disclosing specific information on my business. A real Buyer will not have a problem with this. Buyers who are dreamers and fakes will fight you on this. Real Buyers who have the money they say they have will not be afraid to prove it to you if the business interests them.
5.Non Disclosure Agreement. After I am satisfied the Buyer is real and if the Buyer wants to see my business, I want him to sign a Non Disclosure Agreement. During this part I emphasise the importance to be very discrete when viewing my business. Do NOT talk to my employees or customers. If you have any questions come ONLY to me.
6.After I receive this document (signed buyers profile and confidentiality agreement) and supporting documents from the prospective buyer I will verify as much of the information as possible and handle the rest in a telephone interview.
7.Only once this process is successfully completed will I reveal specific information of you business or arrange for an interview with the Seller.
Kindly complete the online application to List as a seller . Feel free to contact me directly .... Jacques Griessel for the Greater Durban Area - 074 954 7798 (mobile) - send me an email
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