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Offer
and Acceptance
Your broker can help you determine
the value of the business by providing information about comparable
sales. Your written offer, accompanied by your good faith deposit,
will document the price and terms at which you agree to purchase
the business. Making your offer in writing assists the Seller in
agreeing to your terms or negotiating changes that may lead to a
contract.
Contingencies
Standard contract contingencies include a legal review of the contract, financial due diligence, an employment agreement, a non-compete
agreement, equipment inspections and an assignment of any lease agreement. Other common contingencies include finance from third parties and
franchisor approvals.
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Closing
The closing is the meeting that results in the purchase
and sale. This is when you pay for the business and receive ownership.
Through cooperation with your other advisors and with our thorough
understanding of this process, Collins & Collins Investments offers
you an effective and efficient solution to the challenges associated
with purchasing your business properly and for the right price. |
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