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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 of 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 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.
Contact
us for more information.
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