Closing the Escrow
by Doug Perry
Commercial Realtor ®
This is what you've been working toward. As part of their service, the escrow company has provided a "Bulk Sale" publication that assures you as the buyer that you receive the business free and clear of any liens or obligations. You will be going to the escrow office to sign the "Bill of Sale" and other documents in the purchase. You will bring a cashier's check for the amount required by the title officer. Once youÕve signed and the sellers have signed, the transactions is completed and the ownership can change hands.
Now You're an Owner!
Once the transaction closes, your training and transfer of keys, phones, utilities, insurance, etc. can take place. Per your purchase agreement the seller has the obligation to fulfill the purchase agreement to it's fullest.
The Final Word
Owning a business can be rewarding and fulfill the entrepreneurial spark in you. But remember -- anything worth having is worth working towards. Don't give up the dream when you encounter "bumps in the road."
About the Author:Doug Perry has experience as an independent business owner himself. He combines over 25 years in the business field with experience in insurance, construction and remodeling, and mediation - bringing people together for mutual benefit. He is a member of the California Association of Realtors and the Sacramento Association of Realtors.
Doug & Marla Perry operate www.BuyBusiness4Sale.com to help bring buyers and sellers together.
(This article may be reprinted only with the author's written permission and must include the article in its entirety and the "About the Author" section.)
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