A Seller’s Diary – Month 8 – Receiving An Offer
We now seem to be at the business end of the process. At the outset Prism gave me an idea about the likely range of offers – and – now that indicative offers are in – it seems they were broadly right. We’ve have 5 offers (one party withdrew following the initial meeting) and whilst two were on the low side, a couple are right in the ball park.
Structure and conditions are critical and the offers do all differ. Prism have helpfully summarised the information and given their view. The next step is to see what can be done to improve the offers – both in headline price and structure/conditions.
I’m pleased to be one step away from the direct discussions – happy to leave that to Prism. We are however being kept in the loop. In truth both front runners’ offers are acceptable but I appreciate that once we’ve agreed Heads of Terms the power shifts to the other party.
I can certainly see the end in sight – and Due Diligence is now rearing its ugly head in earnest. Talking of which I’ve still got some things to sort on that side!