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I instructed David my partner and i would study the business, and convince the owner that my appraisal was accurate, but David had to do the negotiations. Owner would never talk if you about the within details if he was negotiating with us directly. Here I spent 5 hours with the seller, not the books, to determine the business was worth $350,000. Owner would require the price, but felt I had done an excellent appraisal. I suggested to David to await 60 days and open discussions therefore. I also told him owner would eventually take the $350,000.
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