Buyers and sellers sometimes overstate, understate or "forget" to state
Like teachers and the proverbial “dog ate my homework” cover story, seasoned business brokers have also heard it all. Only our tall-tale tellers are taller. And they often don’t realize what they’re telling us is untrue.
Some are, in fact, keeping the truth from themselves.
It happens with those who want to buy a business and those who want to want to sell a business. Typically, their errors and omissions fall into one of three buckets: overstating, understating and “forgetting” to state.