I got that Closing yesterday. A small restaurant, the deal was very simple. The Buyer was buying a company, he is from Canada and he is working on his L-1 visa, so he needs a company that was in business for some time.
The agent, who called me, was very knowledgeable, pleasure to work with. The Buyer is not a native Canadian, he speaks English pretty well, but is a bit confused by all the different terminology, transaction details, and business details. He was always accompanied by a young smiling guy, who was translating and explaining things to the Buyer.
Later it turned out the guy was there for his wife, who is not only related to the Buyer, but is an agent. The smiling guy is not licensed.
I do not know what the arrangement was there, but the agent was, obviously, getting very little out of that deal. I felt sorry for him. He was easy to work with.
All the time in this transaction there was not a single time any tension, but it was sort of going along with it. The Buyer was not sure that I was telling him the truth, and confirming was always on the agenda. It was easy because there was all paperwork. No double books, no unaccounted stuff. Very clean, every piece of paper for all the years. The buyer knew there was no money, but he did not care as he already made the arrangement with the national franchise, and basically was taking the lease over.
My attorney was, as always, very professional. And with all that we were able to navigate between the Landlord, his Franchise, his immigration attorney, licensed agents and unlicensed 'friend'.
Me and my wife were the happy Sellers, enormously tired after 6 years of desperate attempts of making any sense of this business.
Now she will sleep better. This was sucking out all our energy. So, at least for now, we are officially 100% involved in real estate. And we wish the buyer the best of luck.
Jon Zolsky, your Daytona Beach Connection
www.BeautifulFlorida.com
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