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Thread: Financial records question

  1. #1

    Default Financial records question

    Is it normal for a business broker to ask for the buyers financial records before offering the business records?

  2. #2
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    I could see them asking for proof of funds, but anything else sounds off.
    Brad Miedema
    Fulcrum Saw & Tool

  3. #3
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    I think they want to know that you are indeed a qualified buyer before sharing the business's records.

  4. #4
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    I think there are many agents who are tired of having window shoppers wasting their time. About 3 years ago we set out to buy a new house. A lot of the agents are not willing to invest time unless you are pre-qualified for a mortgage. We planed to pay cash so were not wanting to be pre-qualified and had a few insinuate that unless I proved I had the cash to buy the house they would not show us any properties. I basically would not work with an agent who required that but did have to prove I had the cash when we signed the agreement.

    I think with a business it is much the same. They want to know you are able to afford the business before wasting their time. I am sure there are some brokers who are not that way and you might want to look for another broker.
    Ray Badger, Turbo Technologies, Inc.
    www.TurboTurf.com www.IceControlSprayers.com

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