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Are there sellers that float the asking price or offer 100% seller financing?

I always hear about these, but does anyone actually do it. For me, my credit is shotty at best and I do not have much in the form of liquid downpayment.

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It would be very rare if you got a deal for 100% financing. Don's first post is spot on. What you have to remember is that someone who sells his/her biz is not that different from you. Most folks would need the capital from the sale of their biz to move onto their next pat of life. Sometimes though you can find a great deal because of illness or divorce but most likely you will need to put something.
I wanted to offer long time employees a great deal on financing but that fell through when one of them said they were sick of the customers and hated being around them. They also wanted to change things around too much considering that it was my money at stake and not theirs.
No offense but everybody has a plan, determination and ideas. What you really need is money, guts and the resolve to work 24/7/365 under adverse conditions.
Besides owing that much money and not having equity is a recipe for disaster.
You will need money to pay the bills at the beginning also. Don't go in under financed, you will regret it.

Nov 14, 2011
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San Bernardino County, CA

You can email me if you would like at drewwall1@yahoo.com

Nov 14, 2011
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The BAF Group LLC
MD

Trying to respond, but the Web Site is not taking my comment.

Nov 14, 2011
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San Bernardino County, CA

Thank you Don for your response. How was his situation different from mine? I got a plan, tons of ideas and the determination to put everything into action. However, I lack one resource that is preventing me from getting into business and that is capital.

Nov 13, 2011
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The BAF Group LLC
MD

Andrew, I would NEVER say NEVER! But the chances of a stranger giving you those kinds of terms are like the odds of hitting Lotto for the big jackpot. Where you MIGHT find that kind of situation is with a Seller who is a very close friend, someone for whom you have worked for years, or a family member. There was one guy, with whom I spoke about this on this Web Site, and he did get such a deal done; however, his situation was extremely unique and, as he agreed, it is not something you could replicate, elsewhere.

Nov 13, 2011

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