ED Magedson – Founder
Sinclair Business Brokers5602 Marquesas Circle suite #202 Sarasota, FL 342 Sarasota, Florida USA
Sinclair Business Brokers Very unprofessional and dishonest business practices Sarasota Florida
I purchased a business with Sinclair Business Brokers as the broker a few months ago. The transaction is now in litigation, according to some attorneys I've contacted Sinclair did not do the ground work to make sure the business is viable. The business is not financially viable, not only not making money but in fact costing money to keep up and running.
Now, most small business brokers write a clause in the sales agreement to get them off the hook, however this is simply not good business practice. Small business brokerage is an industry filled with liars, fraudsters, etc. and Sinclair may be smooth enough to have tricked me, but they may be one of the worst in the industry. My lawyers have advised me that Sinclair does a rush job, giving only 30 days to do due diligence on fairly high value businesses. While this may be an industry standard they could give a person as much time as they needed. Also, they use tactics such as saying other offers have been made, you should hurry, and worse off all refused to have the closing attorney give me a draft of the closing docs in advance so I could show it to a lawyer I know and trust.
Do not do business with Sinclair Business Brokers in Sarasota.
This report was posted on Ripoff Report on 04/29/2014 05:50 AM and is a permanent record located here: http://www.ripoffreport.com/reports/sinclair-business-brokers/sarasota-florida-34233/sinclair-business-brokers-very-unprofessional-and-dishonest-business-practices-sarasota-f-1142557. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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