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Some see themselves as master negotiators. They can drive a seller and broker nuts. That’s where we come in.
Our buyer clients think they have many choices. Some act like loose cannons. Our job is to bring them down to earth, so they behave in a practical way.
Here is an example: “Price is the amount at which a business changes hands between a willing seller and buyer when the seller is not under any compulsion to sell and the buyer is not under any compulsion to buy, both parties having knowledge of relevant facts.”
The above definition is the textbook answer that, of course, rarely appears in the real world.
In reality, compulsion works both ways: Sellers try to create buyer competition, and buyers look for owners who must sell.
The appraiser’s job is to create the range within which the buyer and seller (and their advisors) negotiate a fair price. Competent and legitimate appraisers abide by standards of appraisal promulgated by professional appraisal societies. Documentation must support the appraiser’s opinion. The appraiser has a duty to investigate, not merely accept the client’s representations. Multiples and rules of thumb are a poor substitute for a proper appraisal.
Buyer Advocates say it’s better “sad” now than sad later. They seek substantiation, accountability and disclosure.
From building a house to building a business
$150,000 loan a pivotal boost for slate business
It started as a modest enough plan. Debra Donovan and her partner, Terry MacPhee, had been given some land in Hants County, Nova Scotia by MacPhee's father, and they planned to build a house on it. Pacing out the property, they noticed slate – lots of it – and decided they could use it for their house. There was a certain romance in the idea: what could be better than a slate roof built from slate quarried from your own land?
But since it's a somewhat rare roofing material these days, they couldn't just hire a local tradesman to get to work with it. They took a trip to Vermont to learn more about the nature of slate and how to install it. The trip involved a visit to an actual quarry – where they were surprised by the size of the inventory yard, and they realized that slate was big business.
On their return, they shared the revelation with MacPhee's parents, who owned some more land near an early 20th century slate quarry. Donovan had a background in management and accounting, and MacPhee's mother asked her if she'd do a business plan to determine the viability of a quarrying operation.
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