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I instructed David which would appraise the business, and convince the owner that my appraisal was accurate, but David needed to do the negotiations. The vendor would never talk for me about the inside details if he was negotiating with us directly. This occassion I spent 5 hours with the seller, not the books, to determine the business was worth $350,000. The seller would require the price, but felt I tried an excellent appraisal. I suggested to David to await 60 days and open discussions once more. I also told him the vendor would eventually take the $350,000.
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