Purchasing an Existing Gas Station

[bill gordon]

What is the name of your state (only U.S. law)? WA

Due to a death in a family there is a Gas Station that is available for sale. Unfortunately it has been closed for 90 days. I am looking into purchasing but there are several complications. New contract with Gas Brand, perhaps Updated Station with them, and legal contracts around purchase to cover both parties legal interest. This is new to me and just looking for best advice and self study I can do. Any people who specialize in this industry in WA would be most helpful....Thanks for your help..

 

[Antigone*]

What is the name of your state (only U.S. law)? WA

Due to a death in a family there is a Gas Station that is available for sale. Unfortunately it has been closed for 90 days. I am looking into purchasing but there are several complications. New contract with Gas Brand, perhaps Updated Station with them, and legal contracts around purchase to cover both parties legal interest. This is new to me and just looking for best advice and self study I can do. Any people who specialize in this industry in WA would be most helpful....Thanks for your help..

Bill, the experts on this forum would be glad to answer specific questions you have, but I suggest that you seriously consider speaking to a CPA as well as an attorney about the venture you are looking to undertake.

 

[HomeGuru]

Yes, I agree.

 

[tranquility]

I agree with the earlier posts, but to buying a gas station, Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh!!!!!!!!!!!!!!!

You need expert advice. You could have liabilities far in excess of the value of the business.

 

[Antigone*]

I agree with the earlier posts, but to buying a gas station, Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh!!!!!!!!!!!!!!!

You need expert advice. You could have liabilities far in excess of the value of the business.

You have to have an extreme amount of capital behind you to be a gas station owner. The environmental concerns are ginormous and the profits are slim to none.