Broker Taking Full Price Offers Only

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by a searcher from New York University
in Cranford, NJ, USA

1yr ago

Broker Taking Full Price Offers Only

Looking at a deal that I am really interested in, but it is priced higher than any banks I am speaking to are saying they will finance. The broker was transparent that they are taking full price offers only, but this feels not realistic based on bank feedback. We are supposed to meet the Sellers on Monday. Is there a reason to keep this meeting or is this a dead in the water deal?

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reply by an intermediary 1yr ago
from Wake Forest University in Winston-Salem, NC, USA

As others above have mentioned, different banks have different appetites which may vary by business, industry, and buyer qualifications. Also, the banks set how much they are willing to lend, they don't set what the market is willing to pay. The difference is made up with equity.

reply by a professional 1yr ago
in New York, NY, USA

I'm not sure if I understand what your asking about here.
Are you leaning on the bank to provide you funding for the deal and or also gauging the amount of leverage they're willing to offer to determine the overall business valuation ?
Do you have your own valuation figures? What did the dd show? Are the Financials certified ?
What's the WC and oc for this business? Are you including this in your purchase price with the bank or left them out ?
How much do you believe in this business and would like to close? If it's important to you i would be glad to work with you.