In my transaction buying Apex Business Advisors, the previous owner and I developed a framework for the deal. The hard part was getting the seller’s attorney not to re-negotiate what the seller and I had already agreed to. As the contract was being revised with all the legal mumbo jumbo, his attorney was throwing in extra conditions or changing actual deal structure. This held up the closing for almost two months.
I called the seller and told him his attorney was changing our arrangement. He asked me if the contract was as I had stated. I said yes. He signed it and faxed it back with no changes.
We see situations like this every day and help people get through it. Every one of our brokers has bought, sold, or currently owns a business.