First LOI Signed!! Quick Questions

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by a searcher
in Glendale, AZ, USA

4yrs ago

First LOI Signed!! Quick Questions

Hi everyone, just got my first LOI signed. Should I be contacting the seller directly going forward? The broker hasn't shared the seller's direct email or phone number yet, should I ask for them?

It's my first time running through all of this so I wanted to make sure.

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reply by a searcher 4yrs ago
from University of Western Ontario in Toronto, ON, Canada

Brokers can be a critical element to closing a deal, so I would not try to box them out of the lines of communication. Some brokers will take a lot of offence to you circumventing them and the seller may feel uncomfortable early on without distilling information through their broker. Brokers often are relied upon to translate some of the buyer's M&A speak/jargon and relay the importance of why you are asking for such exhaustive information. At the end of the day, brokers are paid a majority of their fees based on the success of a deal, so they are more on your side than they may initially appear and viewing them as a resource/conduit to having a successful deal closing can be beneficial.

reply by a professional 2yrs ago
from Villanova University in Lancaster, PA, USA

Agree with Aleksander above. It's worked to have the broker and the seller together at meetings and calls so that every conversation is above board. A broker that is a good facilitator can be very helpful.‌‌