Rules of Dating: When to Introduce the Seller Note?
When is the appropriate time to discuss seller notes and their details, so that you're still being considered a competitive, prospective, buyer?
Or perhaps a better way of asking -- what do you reveal at what point?
For e.g., Pre-IoI - that a seller note will be required
IoI - Seller note as part of consideration (is it advisable to mention percentage of note, interest rate, forgivable vs. not here?)
LoI - Lay out the details: percentage, forgivable/not forgivable, rate etc. Do you leave anything out here for future negotiation?
I'm asking from the lens of not wasting anyone's (including my!) time on a deal where terms were never going to be accepted; but also cognizant that showing all cards at once (or at IoI) could make you look less viable than someone else, who is simply planning to negotiate this later! Also in the interest of avoiding deals falling apart later.
Any insight here into what's "typical", or what people are doing will be helpful!
Or perhaps a better way of asking -- what do you reveal at what point?
For e.g., Pre-IoI - that a seller note will be required
IoI - Seller note as part of consideration (is it advisable to mention percentage of note, interest rate, forgivable vs. not here?)
LoI - Lay out the details: percentage, forgivable/not forgivable, rate etc. Do you leave anything out here for future negotiation?
I'm asking from the lens of not wasting anyone's (including my!) time on a deal where terms were never going to be accepted; but also cognizant that showing all cards at once (or at IoI) could make you look less viable than someone else, who is simply planning to negotiate this later! Also in the interest of avoiding deals falling apart later.
Any insight here into what's "typical", or what people are doing will be helpful!
