For Buyers & SellersThe Factors of Closing the Deal
Information for Buyers & Sellers
For every reason that a pending sale of a business collapses, there is a positive reason why the sale closed successfully. What does it take for the sale of a business to close successfully? Certainly there are reasons that a sale might not close that are beyond anyone’s control. A fire, for example, the death of a principal, or a natural disaster such as a hurricane or tornado. There might be an environmental problem that the seller was unaware of when he or she decided to sell. Aside from these unplanned catastrophic events, deals abort because of the people involved.
The Buyer and Seller Must Both Feel Like They Got a Good Deal
If they do, the closing should be a simple matter. If the chemistry works, and everyone understands and accepts the terms of the agreement, and feels that the sale is a win-win, the closing is a mere formality.
A Final Note
Remember these four components in working toward the success of the business sale:
- Good chemistry between the parties involved.
- A mutual understanding of the agreement.
- A mutual understanding of the emotions of both buyer and seller
- An understanding with your professional people to make the deal happen.