The following list is a detailed step-by-step process for those interested in buying a business.
Call LGI Business Brokers
- Arrange for a confidential appointment with a knowledgeable, professional, and experienced Certified Business Broker.
Provide Background Information
- At the initial meting, be prepared to provide your broker with personal information about your background, including your financial resources and funds available for investment.
Sign Non-Disclosure Statement
- Prior to receiving information about any business sign an agreement not to disclose confidential information that may be provided to you by your broker.
- An appointment will be arranged for you to tour the business you are interested in. You may also talk with the owner(s).
- LGI Business Brokers will prepare the necessary papers for your offer the purchase. Your broker will assist you with information on any contingencies you may desire.
Presenting the Offer
- Your offer will be presented to the seller by LGI Business Brokers. The Broker will provide your background information to the seller.
- The seller will accept, reject, or make a counter offer for the buyer.
- Both parties must agree to all terms and conditions of the offer in writing
- The buyer’s earnest money is deposited in the escrow account of the broker, attorney, or closing agent.
- Buyer may inspect the financial records of the business as outlined in the Offer to Purchase
- Merchandise inventory is taken by the buyer and seller and the amount of inventory is determined.
- Broker, Buyer, and seller are present at the closing attorney’s office to sign the closing documents.