He’d already told his wife they were done. Then the buyer’s accountants opened the books.
A plumbing operator with 30+ years in the trade and a roughly $15M business had a signed offer in hand. Great price. Handshake at the country club, the whole thing.
Then the buyer’s inspection started. The extra profit he’d claimed didn’t hold up on paper. His two biggest commercial accounts were on expired contracts. Half his techs were 1099s who worked like employees. Each finding gave the buyer a new reason to cut the price.
The cuts came to $1.8M. Not because his business was bad, it was excellent, but because nobody looked before the buyer did. Every one of those items could have been fixed for a fraction of that, with time.
Details anonymized. Based on the situations we see across home-services transactions.