3 Buyer Deal Breakers You Can’t Ignore

Last Friday I had a phone call with a buyer and made the decision to blacklist them from future opportunities.

The buyer called and insisted on knowing the exact street address of a business for sale before signing a confidentiality agreement.

He’s done this twice before on different businesses and was told both times, absolutely not. He refused to sign the confidentiality agreement both times.

I gave warnings each time. There is no third warning.

It does not happen often but when buyers violate one of three key rules, the risk is too high to work with them.

1.     Breaking the confidentiality agreement.
2.     Lying during the process.
3.     Repeatedly requesting confidential information but refusing to sign the confidentiality agreement.

If you’re planning to acquire a business, your top priorities are building trust and maintaining confidentiality.

If either priority is missing, your odds of closing a deal are slim to none.

How you interact with brokers and sellers is as important as what you ask.

If you break one of the above rules, know you’ll never be able to work with that broker again.

Let me know any other deal breakers you have for buyers in the comments.