Once the Buy/Sell has been executed and forwarded to the manufacturer for approval, the process will normally take about 60 days. During this period the manufacturer may choose to reject the proposed Buyer and exercise their Right of First Refusal. In this instance they normally assign this right to a preferred candidate who must fulfill all terms and conditions of the original Buy/Sell Agreement. The Seller ends up with the same proceeds as he would from the original Buy/Sell and there is no longer any doubt as to whether or not the Candidate will be approved.
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Since 1990 Don Brown has been providing intermediary services to automobile dealers. He has worked for Ford Motor Company and Chrysler Corporation (FCA) at the District and Zone levels. He has experience in automotive sales and sales management and spent 14 years as a dealer principal for Ford Motor Company and General Motors brands.