Hello, has been awhile since if been here. I have a friend that knows another good friend that is retiring and wants to sell his authority for a good price.... All clean ratings. What is the legal process in buying a pre-existing authority from start to finish? Thanks in advance!
Process in Purchasing an pre-existing authority
Discussion in 'Ask An Owner Operator' started by Whitey14243, Aug 1, 2016.
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Your question will be best answered by an attorney, not an anonymous Internet forum. You will be money-ahead by hiring a lawyer with expertise in contract law.
Dominick253, Broke Down 69 and RERM Thank this. -
Thanks, I planned on contacting an attorney about it, just figured I could get some insite from a fellow driver that Has perhaps already been down the road who could inform me on what to expect.
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" won't get a new entrant audit" is a plus I've heard. Cept that first time you get pulled over and find out you been doing something improperly with your paperwork; there's no slack given like they'd have gave at that new entrant audit.
"Brokers won't use new entrants" -yeah, like 1 in 20 maybe won't. And they ain't gonna be posting big money freight on a board for any old anybody to pull, more than likely neither.
Unless something good come along with that authority I'd say you got somebody thought they "seen ya coming"
Just my opinion. Feel like to many folks get sold a story that buying a old one is somehow a big advantage.KenworthGuyNH and Whitey14243 Thank this. -
The only advantage I can see buying an old authority is if it came with contracts for direct shippers.
John Dewart, windsmith and KenworthGuyNH Thank this. -
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Why would you want to buy a pre existing athority?
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I'm still offered the same junk loads and rates from brokers leased on at an old MC as I was at a newer one. I'd sure like to know the secret of how an old MC # gets better paying loads, more consistent better paying work, etc from the brokers?
Big John Classic HQ Thanks this.
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