I seen this woman who is 22 buy a car wash using seller financing and stuff and was wondering if people had any advice on that and also getting loans to buy businesses?

  • SmallBizBroker@alien.topB
    link
    fedilink
    English
    arrow-up
    1
    ·
    1 year ago

    the concept of seller financing is straightforward but don’t just approach a seller and tell them that you expect them to finance the entire transaction. It is a bad look and most sellers will stop the conversation right there.

  • AutomaticBuyer9872@alien.topB
    link
    fedilink
    English
    arrow-up
    1
    ·
    1 year ago

    I wouldn’t approach the seller right away with the idea of seller financing. I would first establish trust.

    If the seller could, they would prefer to sell their asset for all cash. Typically seller financing gets involved when they don’t have many other options.

    There’s no such thing as a free lunch. If you are able to get seller financing, you probably would be paying more for the asset or possibly more in interest than what the bank would provide.