Posted by JP on September 04, 2002 at 20:37:31:
My partner and I are going to be selling a business in the near future, and while we want to cash out we want to be prepared to offer seller-financing if necessary. It's a profitable web business that generates about 40k a month in net cashflow, but because it is a "digital" business there really are no hard assets, etc. In order to create a note that we can turn around and sell do we basically have to get the note secured by the buyer's real estate or other similar assets? Any advice or input would be much appreciated. Thanks...