The items below exhibit a high level summary of the typical steps that a professional Business Intermediary will coordinate during the process of Selling and transfer of a business to a new Owner
- Confidentiality & Non-Disclosure Agreement
- Initial Interview: Determine Goals, Objective & Timeline
- Preliminary Due Diligence: Provide Pertinent Data; Determine Range of Value
- Reconcile Difference Between Seller Expectations and Market Conditions
- Exclusive Listing/Engagement Agreement
- Prepare Marketing Materials & Confidential Business Review
- Prepare list of Target Buyers
- Contact Potential Buyers; Obtain Signed Confidentiality & Non-Disclosure Agreement
- Obtain Buyer Profile & Financial Ability
- Provide Buyer with Confidential Business Review
- Buyer & Seller Interview
- Site Visit
- Buyer Submits Written Letter of Intent (LOI) to Purchase
- LOI terms & conditions successfully negotiated
- Buyer Submits Earnest Money Deposit
- Buyer Begins Confirmatory Due Diligence
- Buyer Begins Discussions with Potential Lenders
- Buyer Reviews Due Diligence Materials; Confirms Accuracy; Removes Contingencies
- Buyer Secures Financing
- Draft, Review, Negotiate and Agree to Terms and Conditions of Definitive Purchase Agreement
- Schedule Closing: Business Transfer & Acquisition Funding
- Day of Closing: Assist In The Execution Of All Documents for Business Transfer & Acquisition Funding
- Wire Transfer of Funds & Transfer of Business Ownership
- Begin Training & Transition
