Bulks Sales and Risk

Why you should talk with Lonnie, Bulk- business sales
At a Telos Event called Life by Design, I met Lonnie. What was my first impression of Lonnie? Kind and Knowledgable. What was my second impression of Lonnie? Scary.

I talked with Lonnie about a coffee house sale. In the business we know this as a bulk sale. Three aspects are sold. The sale of fixtures and furnishing, the good will in the name and finally the property or underlying lease (if it is applicable). How did Lonnie scare me? Ucc file seek, How is property being taken sole proprietor or company, what about the IRS, Are there any county liens, Federal liens, have you taken any courses in conjunction with CABB.ORG And I quote "The California Association of Business Brokersis a professional trade association whose members are actively involved in assisting their clients in selling, buying, and evaluating businesses. CABB was organized to recognize the professionals of business opportunity brokerage, to help educate the public on the benefits of using licensed intermediaries, and to establish a code of ethics to which members adhere. " The idea behind this group of professional is simple. They follow certain basic principles, ethical approach to business, the investment risk and effort that a person must calculate to estabalish and put forward a profitable continuous business. How to do a fair evaluation which gives an honest presentation to both seller and buyer.

That stepped up things a notch. Then he shared with me the organisation called IBBA.Org. He recommended that I look into that organization.
or IBBA. ORg. By the way these are elite groups. There are very many people who do what Lonnie does.
The biggest piece of advice that lonnie gave me was get a good escrow person. He even gave me a phone number and name.
That's all for now
Val Rensink Exit Desert Ocean realty