The
final step of Selling a Small business is Closing the sale.
Once
we have found a serious and financially qualified buyer and they are
interested in acquiring your business, we will assist them in putting
together a Letter of
Intent - an LOI.
The Letter of Intent is a offer of sorts that will spell out the basic price and terms of the acquisition and at this point the seller can determine if the offer is acceptable or not. At this point the seller can accept the offer, counter-offer or flat out refuse in some cases.
Assuming both parties have agreed upon the price and terms of the deal we'll get the attorneys involved and they'll start doing what they do best: contracts and protecting your assets. They'll put together an Asset Purchase agreement or Stock-sale agreement, depending on the type of business being sold. Attorneys will help with issues of transferring leases and paperwork involved in the purchase of any real estate.
We will assist the buyer making sure he has everything needed to perform due diligence. We will also help the seller prepare for the sale and help oversee the process to ensure it goes as smoothly as possible. You would be amazed at how many deals our firm has had to explain to an attorney who's inexperienced in business acquisitions how to conduct the closing. We will also provide introductions to any financial advisors to help assist with the capital gains from the sale of their business.
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us about the Process of Selling a Small BusinessThe Letter of Intent is a offer of sorts that will spell out the basic price and terms of the acquisition and at this point the seller can determine if the offer is acceptable or not. At this point the seller can accept the offer, counter-offer or flat out refuse in some cases.
Assuming both parties have agreed upon the price and terms of the deal we'll get the attorneys involved and they'll start doing what they do best: contracts and protecting your assets. They'll put together an Asset Purchase agreement or Stock-sale agreement, depending on the type of business being sold. Attorneys will help with issues of transferring leases and paperwork involved in the purchase of any real estate.
We will assist the buyer making sure he has everything needed to perform due diligence. We will also help the seller prepare for the sale and help oversee the process to ensure it goes as smoothly as possible. You would be amazed at how many deals our firm has had to explain to an attorney who's inexperienced in business acquisitions how to conduct the closing. We will also provide introductions to any financial advisors to help assist with the capital gains from the sale of their business.
