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Any type of business that is for sale (also called business chance brokerage or simply business brokerage). The sale or lease of the business and goodwill of an existing business, enterprise, or opportunity, including a sale of all or substantially all of the assets or stock of a corporation, or assets of a partnership or sole proprietorship.

Generally, if real property is an asset of the business, a real estate broker’s license is required to sell the business. Because a broker may not be aware of many of the special problems involved in selling a business, however, the advice of an experienced business counselor or attorney may be appropriate. Both seller and buyer should be aware of the application of the bulk transfer laws on the sale of the business. They should also be aware that, under the Uniform Commercial Code, any contract involving the sale of goods of $500 or more must be in writing to be enforceable.
Dearborn Real Estate Education
This "Word of the day" is excerpted from The Language of Real Estate, 6th Edition by John Reilly (published by Dearborn Real Estate Education, 2006 copyright). To purchase the complete book, with over 2800 key terms and definitions, or to browse through Dearborn's hundreds of other professional real estate titles, including Real Estate Technology Guide by Klein, Barnett, Reilly, click here.