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Ballard
Escrow Inc.
5900 24th Ave NW
Seattle, WA 98107
Tel 206 781 1002
Fax 206 781 1025
email
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Business
Opportunity
transactions
are a very
specialized
area of
the escrow
business.
This type of transaction entails the purchase and sale of a business or the assets of a business, rather than the purchase and sale of a piece of real property. The assets of a business may be tangible or intangible in nature. For example, tangible assets might be a non-compete agreement, the name of a business, or "good will". Establishing that the assets are clear of liens is done via the UCC (Uniform Commercial Code) 11R search rather by title search, as is done in the case of real property. Rather than utilizing a deed of trust to secure a note, a security agreement and UCC filing are used.
Ballard Escrow, Inc. is very pleased to have closers who handle this type of transaction on a case by case basis. Generally, these transactions require a minimum of 30 days for closing. Because of the time-consuming nature of this type of transaction, and because third party costs are incurred in the process, it is the policy of Ballard Escrow, Inc., to collect the escrow fee from the parties up front, when a Business Opportunity Purchase and Sale Agreement is accepted into escrow. Please contact Ballard Escrow, Inc., for quotes on Business Opportunity escrow fees.
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