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Commitment: You commitment to sell your business at a price and terms consistent with the willingness of the marketplace.
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Documentation: You provide us all of the necessary documents and data required to sell your business.
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Background Information: You provide us with complete background information on your business (full disclosure). Tell us your businesses strengths and weaknesses. Your weaknesses could be a buyer’s strengths.
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Qualify: We qualify potential purchasers as to their intent, time frame and cash available to invest. We advertise businesses like yours, as well as others, to get the highest response and the greatest number of prospects. All potential purchasers sign a confidentiality agreement concerning information provided to them on businesses that are disclosed to them.
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Showing: Our sales associates show your business to a potential purchaser and discuss at length the various components and benefits for the potential purchaser.
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Meeting: A possible meeting with you, the potential purchaser and us.
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Offer to Purchase: Your purchaser writes an offer to purchase (Earnest Money Agreement). This offer may be contingent upon inspection of the businesses financial records , and is not binding until all contingencies are removed in writing.
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Present Offer: You arrive at our office at the appointed time where we present the offer to purchase to you and all of your decision makers.
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Background: We will give you background information of your purchaser, the point of view on how your purchaser arrived at their offering price and terms.
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Explanation: We explain the terms and conditions of the offer to purchase to you and your decision makers.
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A. Almost all offers are contingent on inspection of the financial records and assignment of a lease.
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B. The offer is not binding until the purchaser removes all contingencies.
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Accept Offer: You accept the offer as it is written or your write a counter offer.
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Acceptance: We notify your purchaser of your acceptance or counter offer.
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Mutual Acceptance: When both parties agree to all terms and conditions of the sale and sign all amendments and counter offers it then becomes a Purchase Agreement.
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Earnest Money: The purchaser’s earnest money check is deposited and the escrow account is opened. All paperwork relating to the sale are provided to the escrow office.
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Inspection: Your purchaser meets with you at our office to inspect and examine your financial records.
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Contingency Removal: Your purchaser removes all existing contingencies in the purchase agreement and it is now a binding agreement.
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Consent to assign your lease
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Appointment Set: For the signing of the closing documents at escrow office.
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Inventory: Arrangements are made for you and the purchaser to take inventory if it applies to your business. Sometimes this occurs after closing.
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Closing: All parties arrive at the escrow attorney’s office to sign all documents.
