Selling a Company Advice
Selling a Used Mobile Homes Business
We hear from a lot of business owners who are timid about listing their used mobile homes business. Despite the mood of the market, we think there are still opportunities to receive a good price for your used mobile homes business. Here's what you need to know . . .
When the economy recovers, we expect to see a sudden influx of used mobile homes businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
The economy hasn't squashed the market for used mobile homes businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Negotiation Exit Strategy
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. It's not unusual for a used mobile homes business sale negotiation to reach an impasse over price or other concessions. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Preparing for What's Next
The decision to sell your used mobile homes business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your used mobile homes business. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your used mobile homes business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your used mobile homes business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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