Books that don't reconcile. A business that only runs when you're there. Two customers making up half the revenue. A lease the landlord won't transfer. Any one of these cuts your price. Together, they kill the deal.
Roughly 80% of buyers under $2M need SBA financing to close, and lenders won't approve a loan without proof: reconciled books, cash flow that can pay the loan, a business that runs without you. Without that proof, a financed buyer can't buy your business.
Most owners find this out at the negotiating table, after it's cost them dollars off the price. Or killed the deal.