The Buying Process Simplified
When you work with Sunbelt, the buying process for a business is greatly simplified, but there are still a number of factors to be considered. The following points provide a straight-forward summary of how we can assist you in finding the right business to purchase.
1. Buyer is required to Sign a Confidentiality/Non-Disclosure Agreement and Criteria Sheet.
2. Meeting with buyer to establish buyer priorities and goals. Provide a choice of businesses for sale that may be of interest to the buyer and that match the buyer’s criteria.
3. Establish financial qualifications of buyer and provide the buyer with a Confidential Business Profile (CBP) – this is an in-depth profile of a business for sale, including a financial snapshot.
4. If the buyer is interested, a meeting is arranged at the business location to view the business and meet with the seller.
5. The buyer may ask the broker to write up an Offer to Purchase instead for additional information on this business.
6. The broker then presents the offer to the seller where it is accepted, rejected or countered.
7. Once the offer is accepted and a deposit is received and held in trust, the buyer has the opportunity to verify all the information during a “due diligence” period.
8. The broker has a due diligence checklist available for the buyer and will work with the buyer to ensure that the appropriate due diligence is carried out.
9. The Offer to Purchase (OTP) or Letter of Intent (LOI) now goes to the buyer’s lawyer as well as the seller’s lawyer to proceed towards closing in the buying process.
10. The broker will work with the parties’ lawyers and/or professional advisors to follow through on the management of the transaction. Our brokers also provide connections to professional services as needed, such as legal, accounting, residential realtors, or immigration lawyers – and any other local market information requested.
11. Brokers strive to make the entire buying process simple and stress free.
12. The buyer now is the proud owner of the business.