Purchasing A Small Business: Earnest Cash Build Up Must Certanly Be Sensible
I found myself speaking with a potential businesses purchaser the other day - he previously just registered for company order financing through ProBuy system on BizBen. He stated the guy wanted the business enterprise; but he was uneasy putting down a 10% deposit. Business is $350,000 and he questioned if he could lower the deposit needs to $5,000.
I inquired a small business dealer that time from the mobile exactly what his advice ended up being on earnest funds deposits for escrow/bulk sale account whenever selling your small business, some tips about what the guy relayed in my experience on this subject topic via an email:
"Earnest cash deposits serve two needs.
Initially, they show the seller that you're dedicated to buying the companies.