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How can we make sure payments are made?

The seller owes money to the bank on the equipment. The buyer is going to buy the business and the only option is seller financing. The buyer wants to make sure that the seller pays the bank since they have a lien on the equipment. If the seller does not pay, it seems as if the bank could take the equipment and then the buyer doesn't really have a business. The buyer wants to make sure he is covered. Is there a service that can notify buyer and seller that all has been paid if the buyer sends checks directly to bank?

Please don't respond about opportunities for financing. We have tried many already.

Kevin Blank

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Nov 20, 2016

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