What happens when I make a purchase offer? | Nemo Vista

What happens when I make a purchase offer?

What happens when I make a purchase offer?

A purchase contract generally includes: -details of the price to be paid for the business; -assets that are included in the purchase; -training to be provided to the buyer; -the time period and area to be covered by any non-compete agreement; -and, if there is to be financing by the seller, the details of the financing. If the buyer and seller agree on the price and terms, the next step is for the buyer to perform their “due diligence.” Due diligence is the examination and evaluation of risks affecting a business transaction that a prudent person might be expected to exercise. The burden is on the buyer—no one else. A buyer may choose to bring in other outside advisors to help or may do it on their own—the choice is solely up to the buyer. Once due diligence has been completed the closing documents can be prepared and the purchase of the business can be closed.

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