Holding note for equipment??

[Reinermom]

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

We have an offer for a piece of commercial equipment that we own outright, but the buyer wants us to hold the note. We've done business previously with this individual and he's reputable. We really would like to sell the equipment to totally liquidate our business. Obviously we'd start with a nonrefundable down payment and a legally drawn up contract.....any advice out there?

 

[JETX]

Obviously we'd start with a nonrefundable down payment and a legally drawn up contract.....any advice out there?

Yep. You are asking for legal SERVICES... which is not the intent of this forum.
Contact a local attorney who can provide those services for you.