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Day 16: Packaging a Business


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Business Brokerage Glossary

Open Listing

A non-exclusive listing given to one or more brokers, each of which can sell the property/business if he procures the buyer accepted by the owner, but under which the owner can also find his own buyer without paying any commission.

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Inspections

Attend property appraisals, inspections, and machinery and equipment appraisals.  Make sure you have a first hand explanation and understanding of any problems or concerns that were detected.
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