Despite Assurances-Buyer NOT Financially Qualified --Ted Leverette and Calvin Hughes

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Here’s a case where the buyer forfeited a $200,000 standby fee for failing to financially qualify to complete the deal. Had there not been the standby fee, the hopeful seller would have lost tens of thousands of dollars paid to professional advisors, not to mention the wasted time working a deal destined to abort. Spoiler alert: The deal was resuscitated. You’ll also hear about the poseurs, worldwide, being coached by charlatans, showing searchers how to fake their financial capability to buy companies.

Despite assurances the buyer was not financially qualified.
Qualifying the buyer
Lengthy process.
Preparation preceded offering.
False confidence in buyer’s accountant’s letter.
Expensive (wasted) professional fees.
$200,000 standby fee forfeited.
Buyer didn’t have the money.
Upfront, get provable evidence that the buyer is qualified.
Acceptable hard evidence of financial qualification.
And then the deal was resuscitated.



Calvin Hughes, Paladin Capital Advisors, PaladinCMS.com


Ted Leverette enables buyers of profitable small and midsize businesses in the USA, Canada, Australia and the U.K. to be the 1st choice of brokers and sellers, which results in more-profitable done deals sooner with less aggravation at lower cost. How? Read his how-to books. And then let him help you deploy proven best practices.

Ted J. Leverette, The Original Business Buyer Advocate ®
“Partner" On-Call Network, LLC
Searcher and Transaction Advisory:
Prepare-Search-Offer-Buy

(Not a business broker; never have been.)

Get these books at PartnerOnCall.com
120 Financial Lifelines for Small Businesses (Free)
How to Prepare Yourself and Find the Right Business to Buy
How to Buy the Right Business the Right Way
21st Century Entrepreneur Ideas for Kids and Aspirational Adults (Free)
How to Get ALL the Money You Want For Your Business Without Stealing It (USA and Canadian versions.)

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