• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Business Purchase???

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

fanesxx

Junior Member
What is the name of your state (only U.S. law)? FL
is it possible to buy a failing business with it's property ????

example: property is $10 mil, if the business owner is in debt of $4 mil (and the business is performing BADLY)
i come and buy the business for $5.7 mil.
 


TheGeekess

Keeper of the Kraken
What is the name of your state (only U.S. law)? FL
is it possible to buy a failing business with it's property ????

example: property is $10 mil, if the business owner is in debt of $4 mil (and the business is performing BADLY)
i come and buy the business for $5.7 mil.
Depends on how the contract is written. :cool:
 

LdiJ

Senior Member
What is the name of your state (only U.S. law)? FL
is it possible to buy a failing business with it's property ????

example: property is $10 mil, if the business owner is in debt of $4 mil (and the business is performing BADLY)
i come and buy the business for $5.7 mil.
Most frequently, and what is often safer, in a situation like that one is to buy the assets only of a business, not the liabilities. You would buy the assets at fair market value, and then the seller would use the proceeds to pay off the debt.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top