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COMMITMENT
Your commitment to purchase a business at price and terms
consistent with the marketplace that is consistent with your
needs and abilities.
DISCLOSURE
You sign an agreement promising to maintain confidentiality
for all the information provided to you on the businesses
we discuss.
BACKGROUND INFORMATION
You provide us with information about yourself, such as a
resume and financial statement. The more we know about you,
the more likely we can find a business you will like. The
more information we provide the seller, the better the terms
he will consider.
REVIEW
Together we discuss and review various types of businesses
and select some that appeal to you.
INTRODUCTION
We introduce you to the businesses you are interested in and
discuss the important factors of each.
MEETING
A meeting between you, the seller and us may take place. This
gives you the chance to ask questions you may have about how
the business operates and to describe your qualifications
to the seller.
OFFER TO PURCHASE
You write, with our assistance, an offer or letter of intent
for the business you like.
- Earnest money may be required to demonstrate
the seriousness to the seller.
- Most offers are contingent upon your
inspection of the books and records of the business. The
offer is not binding until you remove all contingencies.
PRESENT OFFER
We present your offer to the seller
BACKGROUND
We give to the seller your background, financial information,
experience and point of view in arriving at the offering price,
terms and conditions. Favorable background information about
you will result in favorable consideration of your offer.
EXPLANATION
We carefully explain the terms and conditions of the offer
to the seller and decision makers.
ACCEPTANCE
The seller accepts the offer to purchase as presented or counter
offers.
MUTUAL ACCEPTANCE
When buyer and seller agree to all terms and conditions of
the sale, the offer becomes a Purchase and Sale Agreement.
DUE DILIGENCE
You meet with the seller to examine the financial records.
Any questions you have are resolved at this time.
We work with the landlord to get an assignment of the current
lease or new lease for you.
OPEN ESCROW/CLOSING ATTORNEY
We provide all documents to the transferring agent or attorneys
so they can prepare the closing documents.
They make arrangements to assign any notes or equipment leases.
INVENTORY
Arrangements are made for you and the seller to count and
price the inventory (if required).
TRANSFER OF OWNERSHIP
All parties meet to sign documents.
Please contact
us with any questions about buying a business.
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