We are in the 11th hour of purchasing a small business. Throughout the due diligence process the seller has been hyper-paranoid about his employees (whom are in their 60s and 70s) catching wind of the sale, so we have had to access the property only after business hours. Even after the Purchase Agreement has been signed he is STILL very squirrely about his employees finding out. (1) is this normal? (2) any obvious red flags?
Note: seller is hands-off and remote. Employees operate the day-to-day.
Excellent advice and why I ended up sticking to real estate. Even if a house burns to the ground you can collect insurance and be made mostly whole.
But on the Monday morning after you buy a business, if nobody shows up to work, game over man. It’s scary.