The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

is an escrow company necessary in a business transaction? what are your thoughts?

has anyone had success buying a business directly w/ no escrow co involved?
how much are escrow companies? just want to get an idea. hard to find reliable escrow companies

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (3)
No User Photo
Freedom Business Brokers
Orange County, CA

Escrow company is not necessary but just like real estate title search is necessary similarly for business
Ucc 1 search is necessary so that yhe buyer is not obligated to pay the loans the seller has taken for the business.Also the publication in a legitimate established newspaper is necessary so that the creditors will know it that the businesss is for sale so they should settle their accounts. This way you the buyer get a clear title if you go thru these things. A business attorney can do the same things but in my opinion escows are easy to work with as they are doing this on daily basis so they have ready disclosures and clauses to protect all the clients in the transcation although they are universal yet very effective. whereas an attorney can custom tailor the clauses dedicated to your business.
Sid0653@hotmail.com

Aug 2, 2010
No User Photo
The BAF Group LLC
MD

...there's an echo in here...

Aug 2, 2010
No User Photo
The BAF Group LLC
MD

Use the attorney that you will be using for your Contract of Sale.

Aug 2, 2010

Start a Discussion