 | 
01-23-2006, 10:17 PM
| | Junior Member | | Join Date: Jan 2006 Location: Wilmington, NC
Posts: 1
| |  Seller has disclosed 2 sets of financial records.
What is the name of your state? North Carolina. I am trying to buy another local franchise restaurant and the owner has allowed me to see an "alleged" second set of financials which show cash taken out every week. I have been told by another individual that there is a third set of financials. I want to buy the restaurant...location,location,location and I've bought other restaurants with crap for financial information, but this is a first time experience for me to deal with a shady seller. What should I do? The seller has made an offer to me at a supposed reduced rate and if I don't jump, he's stated that he is going to put it on the market for a higher sum...which is a red flag in and of itself. Now with the second set of financials,(why would he even give me this info except to tempt me into thinking that there was more $$ than there really was?) and a reported third set, I am flabbergasted. I am trying to get a bank loan, and I can't say there's another set of books or three to them. Independent appraiser? Do I show them the second set of books? Any help in this matter would be greatly appreciated, there is actually much more to the story, but I don't have the time to go into it now.  |
01-24-2006, 08:31 AM
| | Senior Member | | Join Date: Dec 2005 Location: Ohio
Posts: 34,546
| | Quote: |
Originally Posted by seatofpants What is the name of your state? North Carolina. I am trying to buy another local franchise restaurant and the owner has allowed me to see an "alleged" second set of financials which show cash taken out every week. I have been told by another individual that there is a third set of financials. I want to buy the restaurant...location,location,location and I've bought other restaurants with crap for financial information, but this is a first time experience for me to deal with a shady seller. What should I do? The seller has made an offer to me at a supposed reduced rate and if I don't jump, he's stated that he is going to put it on the market for a higher sum...which is a red flag in and of itself. Now with the second set of financials,(why would he even give me this info except to tempt me into thinking that there was more $$ than there really was?) and a reported third set, I am flabbergasted. I am trying to get a bank loan, and I can't say there's another set of books or three to them. Independent appraiser? Do I show them the second set of books? Any help in this matter would be greatly appreciated, there is actually much more to the story, but I don't have the time to go into it now. | If you think the deal is shady, run! Do not enter into a business deal with someone who has shown themselves in your opinion to be shady. |
01-24-2006, 09:05 AM
| | Senior Member | | Join Date: Jun 2000 Location: Somnambulist University
Posts: 40,247
| | | Simple answer.... this is a BUSINESS. Treat it as such. Talk with a local attorney who can review ALL of the issues.... and advise accordingly. There is no way that any of us (not knowing you, the seller or the 'books') can tell you what to do.
__________________
There are at least 17 lawsuits (!!) filed in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).
Why has he spent over $1.7M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
|
01-24-2006, 09:08 AM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 76,413
| | Quote: |
Originally Posted by seatofpants What is the name of your state? North Carolina. I am trying to buy another local franchise restaurant and the owner has allowed me to see an "alleged" second set of financials which show cash taken out every week. I have been told by another individual that there is a third set of financials. I want to buy the restaurant...location,location,location and I've bought other restaurants with crap for financial information, but this is a first time experience for me to deal with a shady seller. What should I do? The seller has made an offer to me at a supposed reduced rate and if I don't jump, he's stated that he is going to put it on the market for a higher sum...which is a red flag in and of itself. Now with the second set of financials,(why would he even give me this info except to tempt me into thinking that there was more $$ than there really was?) and a reported third set, I am flabbergasted. I am trying to get a bank loan, and I can't say there's another set of books or three to them. Independent appraiser? Do I show them the second set of books? Any help in this matter would be greatly appreciated, there is actually much more to the story, but I don't have the time to go into it now. |
**A: I would stay away from this scam artist. | |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | | | Thread Tools | | | | Display Modes | Rate This Thread |  Linear Mode | | 
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off | | | |
All times are GMT -5. The time now is 08:13 PM.
