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What are the types of scams out there?

As a seller, what are the types of scams (key words, promises, etc) that come via message though BizBuySell messaging? Some has just about offered to buy our business without ever meeting us or going through our books and seeing the operations. granted, we did put a lot of detailed financial/operational info in our Ad and they know we are very close to deal with another party, but they want to meet with their down payment and close this weekend!

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The BAF Group LLC
MD

Andrew, how many stars are in the sky? There are tons of these types of scams going around. Many involve buying businesses they have never seen, or funding Buyers without ever seeing credit reports or demanding security. The sophistication of these people is mind boggling. You are correc to be skeptical, but at the same time, depending upon your buisness, their haste may simply be that. Or, they may not be scam artists, at all. They may be tire kickers or just not very polished Buyers. Either way, you may find they evaporate as quickly as they came into your life.

Getting an attorney involved is a key element. And do not give up anything without getting a substantial deposit in advance, and certified funds at settlement. If you have references on these people - like banks, attorneys, accountants and other, known businesses with whom they have previously done business - that is a real key.

May 31, 2012