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The Businesslike Note
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What We Need for a BUSINESS NOTE
If you wish to speak Korean,
please call Mr.
Key Kahng at 703-395-2751.
This list of documents is necessary for us to proceed with a Business
Note.
Documents when the business sold:
ORIGINAL Note or Contract.
Business Purchase and Sale Agreement.
Closing / Settlement Statements and Escrow Instructions.
Proof of Fire / Hazard Insurance.
Evidence of Down Payment.
Underlying documents (if applicable).
Security Agreement.
U.C.C. (Uniform Commercial Code) Filing (State).
U.C.C. (Uniform Commercial Code) Fixture Filing (County).
Copy of Lease.
Proof that landlord approved the sale.
Bill of Sale.
Covenant Not to Compete.
Bulk Sales Compliance (or Waiver).
All applicable licenses (business, corporation, liquor, gaming,
professional, etc.).
Franchise Agreement (if applicable).
County Personal Property and Real Property Tax Numbers.
Any previous names of the business in the past five years.
Proof sales tax was paid (if applicable).
Equipment lease(s).
Business securing your note or contract:
Website address, if any.
Address or exact location (map helpful).
Physical description (motel, dry cleaning business, etc.).
Opinion of value / appraisal (if available).
Photographs (if available).
Promotional materials used by the business.
Equipment leases.
Your books and records for the two years prior to sale of business.
Payor:
Payment record on note or contract for past two years.
Collection / servicing agent: name, address, phone, fax, and account
number.
Landlord verification that rent is current.
Proof that franchise fees are current (if applicable).
Payor's financial information or financial statement (if available).
Payor's resume or biography (if available).
Payor's books and records since ownership of business (if available).
Parties involved:
Your name, address, phone, fax, e-mail, and Social Security numbers.
Payor's name, address, phone, fax, e-mail and Social Security numbers.
Landlord's name, address, phone, fax, and e-mail.
Franchisor's name, address, phone, fax, and e-mail.
Collection / servicing agent's name, address, phone, fax, e-mail and
account number.
Escrow agent or attorney who closed the sale of the business: name,
address, phone, fax, and e-mail.
Business broker who received a commission from the sale of the business:
name, address, phone, fax, and e-mail.
Underlying lien holder's name, address, phone, fax, e-mail and account
number.
Insurance agent / carrier's name, address, phone, fax, e-mail and
account number.
Don't worry if you can't find all of these items. Send us what you
have and we will take care of the rest.
We also need two signed permission forms that allow us to proceed.
One is required so that we may contact parties involved in the creation
of your note, such as the settlement agent or escrow closer. The other is
required so that we may contact other parties involved, such as the
servicing agent or underlying lien holders.
Click here for the permission form.
Print out two copies and return to us with proper signature(s). If you know
exactly who to contact, you may fill out the form yourself. Otherwise,
provide us with the signature(s) only, and we will fill it out for you.
When you have copied the permission form, click the "BACK" button on your
browser's tool bar to return to this page.
We will take these items and check all necessary information. If
everything checks out, we will proceed to close.
Back to
Instructions on How To Sell Your Note
500 Wall Street, Suite 405 -
Seattle, WA 98121-1577
Voice: 206-448-1160 - FAX: 206-448-8476
email lorelei@eskimo.com
Larry L. Stevens, Founder and Lorelei
Stevens, President
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