In a down economy, many agricultural loan business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of agricultural loan businesses that are actually for sale.
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At Gaebler, we're seeing agricultural loan business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Hoping for a quick agricultural loan business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your agricultural loan business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
It's incumbent on buyers to commission their own appraisal of your agricultural loan business's physical assets. Your appraisal should occur before you put your business on the market. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your agricultural loan business.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your agricultural loan business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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