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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®








 CLOSING-YOUR-BUSINESS SALE

  

Are You Ready to Retire?

Retirement Budgeting

Sources of Retirement Income

Tax-Deferred Savings Vehicles

Estate Planning

Selling Your Business

Getting Your Business Ready for Sale

Working With a Business Broker

Closing-Your-Business Sale

More Resources: Retirement Planning 		  Negotiating Tips from the Trenches

"The greatest tension in negotiating the sale of a business is determining how much risk the seller will bear after the sale. Risk shifting can take many forms, ranging from a contingent purchase price to an open-ended indemnification obligation," says attorney James Thomas, an attorney with Minor & Brown P.C., a Denver-based company that specializes in exit strategies and business planning for privately owned businesses.Minor & Brown's affiliate, the Business Enterprise Institute, offers exit-planning seminars, books, and an “Exit Planning Review” newsletter.
  • "Use a professional for negotiating—someone who's not afraid to walk away from the deal," says Michael Packard, CPM, a consultant and business broker in Carlsbad, Calif., with 28 years' experience. "It's easier for a seller to make that decision with advice from an expert."
  • "Before anything is decided, both parties should consult their tax and legal advisers concerning the future implications of deferred payments, goodwill, non-compete agreements, reserves, contingent liabilities, and a host of issues that can surface months, even years, after the final handshake," says Joseph Klock, CRB, CRS, a 50-year real estate veteran, in Real Estate Professional, Nov./Dec.1997

10 Things to Include in Your Sales Contract >