The sale of my restaurant has taken longer than I expected and it is stressing me out. I just want to conclude it asap so that I can get rid of the headaches. But the buyer is being unreasonable difficult and ridiculous with his requests. I made a mistake when I accepted the offer...I forgot to include a dateline to sign the SPA as I was an anxious and happy to find a genuine buyer. I thought he was a fair and reasonable person and businessman, but it turned out he is an extremely unreasonable person who likes to twist and turn our words to suit himself. He also likes to put words in our mouth and stubbornly unreasonable. Basically, it is a waste of time trying to explain things to him because he only choose to see and hear what he likes and suits him only. NIGHTMARE BUYER!!
My biz partner is the most patience person and he too gave up and passed it our lawyer to handle. And our lawyer is also vomitting blood trying to talk some sense into this buyer. The longer he drags and delays the signing, my stress level is prolong as biz is almost dead and every month we have to use our own money to pay the expenses. I'm burning money every month and I want to stop the burning asap! I really want to be rid of this headache immediately and urgently. The buyer is really fucker!! Keep coming up with excuses to delay the signing. Never ending!! We can never fulfil his requests! Arrrgggh....
I'm super duper stress! But since there is nothing much I can do, I'm going to take it 1 day at a time and pray that we can sign off by this month. Have to think positive and strongly believe that we will sign off the SPA by this month!! Really praying hard......it takes a lot of my willpower not to reply to his idiotic emails and told him off! I'm so tempted to tell him to fly kite! His delayed has caused us to incur additional RM15k-Rm20k per month which is really hurting my pocket! SIGH!! Don't understand why nowadays there are so many men who isn't honourable and doesn't keep their words!
Anyway, will pray hard. And not going to stress myself for now......will just play by ears and take it 1 step at a time! That's all I can do and have control over.
Updated 16.6.16
At last, we managed to kinda force our nightmare buyer to appoint his own lawyer to deal with our lawyer on the S&P Agreement. They asked for a 10 days extension. Will see what tricks and excuses they are going to use for these 10 days extension! I can't wait to get rid of the restaurant and get over the sale with the nightmare buyer. I will not step my legs into the restaurant no matter how good is the food!
Updated 06.07.16
On 28.6.16, the Korean buyer wrote to my partner a long email repeating and complaining about the same issue which wasn't even an issue. And towards the end of the email he said he wanted to abort the deal. After dragging us for 3 months and asked us to do countless things, he aborted the deal. Thank god we managed to find another buyer or else we would be left in a limbo. We had to sell it at a cheaper price, but at least we managed to sell. This new buyer is local and introduced by a good friend. Easier to deal with too. So in a way it was blessing in disguise that the Korean buyer aborted the deal. We instructed our lawyer to reply to him that his RM25k deposit will be forfeited since he decided not to proceed with the purchase.
Our lawyer thinks that the Korean buyer will not let us off the hook so easily and will demand that we pay him back the deposit. In his dream we will pay him back especially when he was the one who wanted to abort the deal after we had did our best to comply with all his requests. Anyway, we have yet to hear back from him as of today. Will decide the next step when we do hear back from him.
Updated 08.07.16
Finally, we have handed over the operation of Nexo to our new buyers. Although we haven't received the balance payment and the shares sale aren't completed yet, we don't mind letting them take over immediately. At least I don't have to top up my own money to keep the restaurant running from this month onwards. We only have to pay the July rental for the restaurant. The rest of the operational expenses will be borne by the new buyers. A huge rock is lifted from my shoulders. 1 burden is resolved, a few more to take care of. 1 at a time 😀!
Updated 30.7.16
Almost completing the transfer of the sale of my restaurant. Hopefully can be settled by next week. Finally, I can see the light at the end of the tunnel. Can't wait to tie up this loose end.
My biz partner is the most patience person and he too gave up and passed it our lawyer to handle. And our lawyer is also vomitting blood trying to talk some sense into this buyer. The longer he drags and delays the signing, my stress level is prolong as biz is almost dead and every month we have to use our own money to pay the expenses. I'm burning money every month and I want to stop the burning asap! I really want to be rid of this headache immediately and urgently. The buyer is really fucker!! Keep coming up with excuses to delay the signing. Never ending!! We can never fulfil his requests! Arrrgggh....
I'm super duper stress! But since there is nothing much I can do, I'm going to take it 1 day at a time and pray that we can sign off by this month. Have to think positive and strongly believe that we will sign off the SPA by this month!! Really praying hard......it takes a lot of my willpower not to reply to his idiotic emails and told him off! I'm so tempted to tell him to fly kite! His delayed has caused us to incur additional RM15k-Rm20k per month which is really hurting my pocket! SIGH!! Don't understand why nowadays there are so many men who isn't honourable and doesn't keep their words!
Anyway, will pray hard. And not going to stress myself for now......will just play by ears and take it 1 step at a time! That's all I can do and have control over.
Updated 16.6.16
At last, we managed to kinda force our nightmare buyer to appoint his own lawyer to deal with our lawyer on the S&P Agreement. They asked for a 10 days extension. Will see what tricks and excuses they are going to use for these 10 days extension! I can't wait to get rid of the restaurant and get over the sale with the nightmare buyer. I will not step my legs into the restaurant no matter how good is the food!
Updated 06.07.16
On 28.6.16, the Korean buyer wrote to my partner a long email repeating and complaining about the same issue which wasn't even an issue. And towards the end of the email he said he wanted to abort the deal. After dragging us for 3 months and asked us to do countless things, he aborted the deal. Thank god we managed to find another buyer or else we would be left in a limbo. We had to sell it at a cheaper price, but at least we managed to sell. This new buyer is local and introduced by a good friend. Easier to deal with too. So in a way it was blessing in disguise that the Korean buyer aborted the deal. We instructed our lawyer to reply to him that his RM25k deposit will be forfeited since he decided not to proceed with the purchase.
Our lawyer thinks that the Korean buyer will not let us off the hook so easily and will demand that we pay him back the deposit. In his dream we will pay him back especially when he was the one who wanted to abort the deal after we had did our best to comply with all his requests. Anyway, we have yet to hear back from him as of today. Will decide the next step when we do hear back from him.
Updated 08.07.16
Finally, we have handed over the operation of Nexo to our new buyers. Although we haven't received the balance payment and the shares sale aren't completed yet, we don't mind letting them take over immediately. At least I don't have to top up my own money to keep the restaurant running from this month onwards. We only have to pay the July rental for the restaurant. The rest of the operational expenses will be borne by the new buyers. A huge rock is lifted from my shoulders. 1 burden is resolved, a few more to take care of. 1 at a time 😀!
Updated 30.7.16
Almost completing the transfer of the sale of my restaurant. Hopefully can be settled by next week. Finally, I can see the light at the end of the tunnel. Can't wait to tie up this loose end.
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