Pre-Qualifying the Buyer:
- Execute a Non-Disclosure Agreement.
- Buyer background information: resume; financial history.
- Determine type and size of business that best fits buyer’s wants and needs.
- Review businesses currently listed.
- Arrange confidential meeting with owner and tour the business.
- Pre-qualify buyer – cash, conventional loan, SBA loan, seller financing.
- Submit a written offer to purchase.
- Secure seller’s acceptance.
- Negotiate all terms and conditions of sale.
- Due diligence search and review.
- Contingency removals and lease transfer.
- Inventory count and verification.
- Secure required licenses and permits.
- Closing documents and transaction.
- Transfer of Ownership.