Business Exit Planning
Selling a Mortgages Bought and Sold Business
You've heard the naysayers - now isn't the time to sell a mortgages bought and sold business. But what they don't know is that many entrepreneurs see mortgages bought and sold businesses as a smart business investment.
When it comes to selling a mortgages bought and sold business, there are no shortcuts to success.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your mortgages bought and sold business.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your mortgages bought and sold business until the prospect has been qualified as a serious buyer.
Should I Hire a Business Broker?
When selling a mortgages bought and sold business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your mortgages bought and sold business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered mortgages bought and sold business sale.
Hoping for a quick mortgages bought and sold 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 mortgages bought and sold business, you'll need to invest as much as a year in preparing it for prospective buyers. In a good market, an attractive mortgages bought and sold business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
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