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Understanding the Challenges of Selling Your Construction Business Part 4

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Before you can successfully sell your business, you must be cognizant of the challenges present during the selling process. In this four-part article, we are discussing a few major challenges with selling your business. In sections one, two, and three, a Clearwater construction attorney covered everything from a valuable owner retiring to gauging the value of your business to managing your time during the sale. In this final section, we will discuss why construction company owners should partner with Clearwater construction attorneys when they are looking to complete this significant transaction. Remember, from construction contracts to legal assistance with projects to growing and selling your business, Cotney Construction Law handles all of these tasks and more for construction professionals.  

Working with a Trusted Partner

It’s critical that the owner of a business maintains confidentiality during the selling process of the business. When you are attempting to make a transaction that involves a valuable asset like a construction business, you do not want employees, vendors, and clients to get wind of the potential sale. This can create an unsettling atmosphere that can negatively impact your business operations and even compromise the sale.

Fortunately, when you partner with our experienced Clearwater construction lawyers, you gain the help of a legal partner who understands the selling process. If you feel burdened by the prospects of selling your business, it’s best to work with knowledgeable professionals that can discreetly navigate you through this process.  

Performing Your Due Diligence

Selling your business is a serious commitment that involves a great deal of foresight. Once you succeed in finding a qualified buyer and receive an offer to purchase your business, there are plenty of new challenges that will need to be addressed. For example, how will the deal be structured? Will you negotiate the final price or accept the submitted offer? Are there any legal issues with the sale? Selling your business requires taking on many critical business responsibilities, filling out a lot of paperwork, and meeting several deadlines. Before you can close on the sale of your business, you require an experienced legal professional to navigate you through this process and ensure that any liability issues are mitigated. Before you can complete the transaction, it’s best to partner with a knowledgeable attorney that has extensive experience in managing these types of deals.    

If you would like to speak with one of our Clearwater construction lawyers, please contact us today.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.