Selling a business
Discussion
HIS LM said:
wattsm666 said:
If not sold why are they chasing fees?
Precisely that is why I am asking - unless they are unscrupulous ambulance chasing bar stewards - has anybody else received a letter Steffan said:
I fear you my be operating under an illusion. If you have issued instructions to a firm of solicitors in connection with the sale of your business they may expect fees irrespective of whether the sale was effected. What does your original letter of instructions actually say?
No let me explain in 2007 I instructed anthea and gerard to sell my business they were hopeless and unsuccessful - today I received a demand for a very large fee or court action will follow HIS LM said:
Steffan said:
I fear you my be operating under an illusion. If you have issued instructions to a firm of solicitors in connection with the sale of your business they may expect fees irrespective of whether the sale was effected. What does your original letter of instructions actually say?
No let me explain in 2007 I instructed anthea and gerard to sell my business they were hopeless and unsuccessful - today I received a demand for a very large fee or court action will follow Steffan said:
As I said before What does your original letter of instructions actually say?. In other words hat did the Solicitors letter of appointment say about the basis of fees? Were they aware they were at risk? I rather doubt it.
They are not a firm of solicitors they sell businesses cough !HIS LM said:
Steffan said:
As I said before What does your original letter of instructions actually say?. In other words hat did the Solicitors letter of appointment say about the basis of fees? Were they aware they were at risk? I rather doubt it.
They are not a firm of solicitors they sell businesses cough !I know the industry and know which company you are talking about (just call me Sherlock). I suspect they had an upfront fee which covers the work they do to sell your business. However there are no guarantees in them or anyone achieving this. After 7 yrs this wuold have been all over/finished.
So, firstly, have you since sold your business? If so, was it to someone they identified? Companies in the industry often have terms that say that if you do sell to a buyer they identified up to a certain period after their work finished, then they can claim their commission. I can only assume you have sold your business?
So, firstly, have you since sold your business? If so, was it to someone they identified? Companies in the industry often have terms that say that if you do sell to a buyer they identified up to a certain period after their work finished, then they can claim their commission. I can only assume you have sold your business?
Frimley111R said:
I know the industry and know which company you are talking about (just call me Sherlock). I suspect they had an upfront fee which covers the work they do to sell your business. However there are no guarantees in them or anyone achieving this. After 7 yrs this wuold have been all over/finished.
So, firstly, have you since sold your business? If so, was it to someone they identified? Companies in the industry often have terms that say that if you do sell to a buyer they identified up to a certain period after their work finished, then they can claim their commission. I can only assume you have sold your business?
No I still own it So, firstly, have you since sold your business? If so, was it to someone they identified? Companies in the industry often have terms that say that if you do sell to a buyer they identified up to a certain period after their work finished, then they can claim their commission. I can only assume you have sold your business?
HIS LM said:
Frimley111R said:
I know the industry and know which company you are talking about (just call me Sherlock). I suspect they had an upfront fee which covers the work they do to sell your business. However there are no guarantees in them or anyone achieving this. After 7 yrs this wuold have been all over/finished.
So, firstly, have you since sold your business? If so, was it to someone they identified? Companies in the industry often have terms that say that if you do sell to a buyer they identified up to a certain period after their work finished, then they can claim their commission. I can only assume you have sold your business?
No I still own it So, firstly, have you since sold your business? If so, was it to someone they identified? Companies in the industry often have terms that say that if you do sell to a buyer they identified up to a certain period after their work finished, then they can claim their commission. I can only assume you have sold your business?
"All conversations are strictly confidential. Your satisfaction is assured through our no risk, 100%, iron-clad guarantee.
Guarantee 1-No Upfront Fees
To put it simply we will never charge you an upfront fee, an advance fee, a marketing fee, a commitment fee, a valuation fee or a documentation fee.
Guarantee 2-No Cancellation Fees
We will not charge you a fee for cancelling our agreement. Your decision to sell your business is one of the most important decisions you will ever make. To secure the best possible outcome for yourself, it is of paramount importance that you work with a team dedicated to your best interests.
Guarantee 3 – No Abort fees
If you decide not to accept an offer or don’t want to proceed with an agreed sale of your business then we will not charge you a refusal or abort fee. It is entirely your prerogative to reject an offer for your business and we feel that you should not be put under pressure to accept an offer or proceed with a sale if you have changed your mind."
Steffan said:
There are a number of features in this matter including the time delay which need amplification to make any real sense of the problem itself. As others have said we need more detail to assess the reality of such a belated bill. Over to the OP.
What do you mean time delayGassing Station | Business | Top of Page | What's New | My Stuff