We are joined by Monica Hoenshell of Calvert Law Firm, a seasoned buy-sell attorney, for an expert look at the legal side of automotive dealership transactions. Monica shares what makes every deal unique, why a tailored approach is critical, and how to avoid the common pitfalls that can derail closings. From the importance of specialized legal counsel to best practices for negotiation and closing, Monica’s insights are essential for anyone buying or selling a dealership.
Key Takeaways:
(02:44) Monica’s background and 20+ years of automotive buy-sell experience.
(04:01) There is no one-size-fits-all contract — every deal is unique.
(05:41) The importance of attorney involvement before signing a Letter of Intent.
(08:38) Post-closing access and rights to customer information are often overlooked clauses.
(13:30) Right of first refusal, what’s changed and how to mitigate the risk.
(17:09) How to choose the right buy-sell attorney and red flags to avoid.
(23:17) Why direct calls help resolve small negotiation issues quickly.
(25:54) How changing regulations and tariffs are impacting dealership valuations.
(26:30) The role and right size of earnest money in protecting deals.
(29:20) Closing day challenges: inventory reconciliation and timing.
(34:00) Monica’s top advice: commit fully, move quickly, and keep everyone available because time kills deals.
Additional Resources:
Driving Performance | Website
https://performancebrokerageservices.com/driving-performance-podcast/
Performance Brokerage Services | Website
https://performancebrokerageservices.com/
Performance Brokerage Services | LinkedIn
https://www.linkedin.com/company/performance-brokerage-services
Monica Hoenshell | LinkedIn
https://www.linkedin.com/in/monica-hoenshell-17138120/
Calvert Law Firm | Website
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