The sale of a client list is taken into account when a business sells to other firms. They cannot sell customers because when they are closed, they no longer have customers. I did not sell a client list — the list of former clients. One wonders what the value would be that customers are already doing business with other suppliers. These agreements include the sales bill; leasing, contracts and intellectual property; re-meding (for business sales); Statement on compliance with the National Bulk Sales Act, which requires notification to suppliers (for the sale of assets). The list of debts assumed by the buyer, often including debts; also contains a statement that the buyer does not support other than those listed. A list of post-sale issues likely including the buyer`s right to balance the purchase price with visible inventory commitments or deviations after the settlement date; and the requirement for the buyer to meet certain requirements such as the wearing of insurance, the maintenance of certain levels of working capital and the seller`s access to financial data until the purchase price is paid in full. If the due diligence investigation following a buyer`s offer to purchase is successful, it is time to enter into the final – and very important – negotiations that precede the conclusion of the sales. Details of non-compete or non-competition agreements, business advisory agreements or the employment contract that the seller will sign as part of the contract. An explanation of whether brokers or sellers participated in the transaction and, if so, how they are paid, which is generally stipulated in the brokerage agreement and generally paid by the seller on the day of the transaction. A definition of the rules of procedure and dispute resolution for the management of late payments should not satisfy the terms of the contract, either by the buyer or by the seller.
A description of the receivables included (or excluded) in the sale, along with a description of how payments are used for collections and how unrecolected claims are processed. The previous graph leaves little doubt that the sales contract is detailed and voluminous. It is also the basis of the negotiation between you and your buyer – not only on the price, but also on what is included (and excluded) in the purchase and how the agreed payment is paid and distributed among the asset classes defined by the IRS. A good business broker can sell a business for more than it would sell if it were sold by the owner. This is largely due to the fact that they can find more and better buyers for the company. A business broker who has experience in selling customer bases can add even more value. If you would like to discuss your situation, contact us today by filling out the form on the right or by calling us at 617-562-5700. Editor`s Note: This article is the nineteenth piece in a series of BizBuySell.com Es Guide to Selling Your Small Business.