The business buying process

Each deal is unique, and there are no generic scenarios. Nevertheless, the acquisition of a business is built on a few basic steps:

  1. Initial interview with Florida Buy and Sell, in which the buyer’s preferences are established.
  2. We select appropriate offerings and present them to the buyer.
  3. Buyer signs a non-disclosure agreement for the selected properties.
  4. We make an appointment with the seller and conduct an initial business evaluation with the buyer.
  5. If the buyer is satisfied with the initial review, he extends an offer.
  6. The seller accepts or replies with a counter-offer. Accepting the buyer offer creates a binding contract.
  7. The buyer puts a deposit in an escrow account (usually 10% of the agreed price).
  8. The buyer conducts due diligence. In case serious discrepancies are found, the deal is off, and the deposit returns to the buyer.
  9. When due diligence is over, the buyer puts the remaining amount to the escrow account. The deal is closed.

It is hard to overstate the importance of having professional support during this complex and potentially cumbersome process. Call us for a preliminary interview and we will discuss how we can satisfy you needs.

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