wornout
Expert
- 70
Hello! I have a top level question. I have been approached by another "local" agent wanting to buy my book. I am definitely interested but not sure how much information to share. I have a non-disclosure but what is the time for that to be signed?
I can provide him top level info - i.e. preferred book, annual premium and retention rate but beyond that what is the process? Should he sign nondisclosure, I then provide top level carrier and ratios if he makes an offer do I require a bank letter or financial statement before providing further details?
He wants to avoid a broker because he wants to avoid the fees. I do have an attorney who will draft the agreement and review.
I can provide him top level info - i.e. preferred book, annual premium and retention rate but beyond that what is the process? Should he sign nondisclosure, I then provide top level carrier and ratios if he makes an offer do I require a bank letter or financial statement before providing further details?
He wants to avoid a broker because he wants to avoid the fees. I do have an attorney who will draft the agreement and review.