What is done during the "due diligence period?" | Nemo Vista

What is done during the "due diligence period?"

What is done during the “due diligence period?”

The due diligence period is used by the buyer to review all aspects of the business—not only the financial aspects of the target business, but competition, changes in market dynamics, available financing, and all other issues that should be considered in purchasing a business. The buyer’s accountant and attorney should review the financial and legal aspects of the purchase. Upon the completion of the due diligence period, the buyer and seller are ready for the closing of the sale. The person that handles the closing is responsible for filing the required paperwork, and ensuring that all licenses and leases are properly handled for the buyer and seller. Nemo Vista works with the buyer in securing the approval of financing, the transfer of licenses, the assignment of lease and franchise rights, and the performance of due diligence for the target business. If required Nemo Vista can assist with the preparation of a business plan to include financial projections that will generally be required by outside lenders.

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