Business-for-sale closing gone to the attorneys!

April 8, 2010

Got your attorney and accountant all ready, do you?  In any transaction business-for-sale transaction, the closer you get to having a transaction completed, the more time you may want to spend with your personal business attorney and accountant and more need there is for asking well in advance for their time.

As due diligence is performed, documents created, closing approaches with the myriad of forms to sign, it is likely you will want consult from your professionals.  The clock is ticking and you need the professional’s attention to get through the process and due diligence.

Remember they have other clients and a life outside the office.  What!  Going on vacation!.  It is happening to a deal I am currently working on now.  We will receive closing documents on Monday.  The seller’s attorney is going on a two week vacation on Thursday.  He is getting ready to leave for two weeks.  You too have had the pile of must dos that await any departing professional.  How is he to fit in the review of closing documents and if he can’t, do we delay close by another two weeks?

Ouch!

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