If a Seller Mentions Family, RUN (Here's Why)
Industrial business, $600K in supposed SDE, and a seller spinning a soap opera about his grandson to keep the buyer away from the books. Classic smokescreen. If you can't see the QuickBooks, you're the mark.
►EXECUTIVE SUMMARY
1) THE "MY GRANDSON HAS THE QUICKBOOKS" LIE — AND HOW SELLERS USE FAMILY DRAMA TO HIDE GARBAGE FINANCIALS: Industrial business, $600K in supposed SDE, and a seller spinning a soap opera about his grandson to keep the buyer away from the books. Classic smokescreen. If you can't see the QuickBooks, you're the mark.
2) ONE QUESTION TO THE CPA BLEW THE WHOLE SCAM WIDE OPEN: The seller claimed the only copy of QuickBooks lived at his grandson's house. Elliott's move? Ask how the CPA does the taxes without it. Turns out the CPA had full access. Within 24 hours, the seller "suddenly" discovered he didn't want to pay taxes on the sale and pulled the deal. Translation: he realized he didn't have a sucker.
3) IF YOUR QoE PROVIDER IS DOINGredactedA MONTH, THEY'RE NOT CATCHING THIS: These scams aren't obvious — they're layered in family stories, emotional misdirection, and just enough plausibility to fool a first-time buyer flying solo. Without real diligence, you're the one walking out of your house when the bank takes it. Volume shops don't do the work. Period.