It's an accounting rule that valuing a business is often the most challenging and difficult part of the process of selling or buying a business. You shouldn't try to do this on your own but rather consult with a Business Broker or CPA. You want to tap into their expertise.
Valuing a Business is really more of an art then a science - it also varies by type of business. If you’re a Buyer you see this process one way and if you’re the Seller you see it a different way. The Seller wants to maximize the sale price while the Buyer wants to pay the lowest amount the Seller will accept. This is American capitalism in operation.
In North Carolina, a commercial deal can be closed at the sellers attorneys office, or some mutually agreed upon location.. The seller gets to pick the title company and both parties will work thru the title company for a successful closing. The title company is considered the neutral closing agent. Some buyers elect to hire an attorney just to review the closing documents. All funds are wired in.
You either have to show proof of cash funds, or get pre-qualified by a Bank. South State Bank which has offices from Florida to Maryland has been great to work with on commercial deals.
We at Paragon Realty only represent only one side of the transaction - either the seller or the buyer, NEVER BOTH in the same transaction. The seller pays our commission, not you the buyer. We will never be a dual-agency.
Before the closing (well in advance actually), you have to provide to the closing title company an insurance binder on the property. Most buyers of commercial real estate that we work with have a pre-existing relationship with an insurance company.
If you would like to talk with us about anything commercial real estate please call us at (704) 769-6486 24 hours a day - 7 days a week. Leave a voice message and we will return your call promptly.
