Using an experienced, professional broker is very important. We use Title Companies, Attorneys, Accountants and Lenders that have experience and are professional in processing the buying and closing of a business. Buying and closing a business is different from buying and closing real estate. Don’t use a residential or commercial agent to represent you. Let my 40+ years’ work for you.
Buying a business combines my experience in representing clients in the purchase and leasing of properties. There is always either a lease to be negotiated or the purchase of the property to be negotiated. To represent you in either of these transactions you must be a licensed real estate broker. I have been a real estate broker since 1977. I will personally represent you in both transactions.
At the beginning you will be required to sign a CONFIDENTIALITY AGREEMENT. Seller in most cases do not want everyone to know that his business is for sale. You are responsible for your confidentiality to this business.
Deciding the right business for YOU is very important We will take the time to discuss your requirements and goals to help find the correct business for you. This will be a large investment and one you or your representative should not take lightly.
Once we locate the right business and location for you we will begin the purchase process. You will be required to sign a Confidentiality Agreement for each business we pursue. Together we discuss the initial offer and I then write the correct contract depending on the type of purchase. The main contracts are Asset Purchase and Real Estate Lease or Real Estate Purchase. The contracts will contain the terms and the necessary contingencies to protect you and allow time to review all the required documents (Due Diligence Period). We will receive and review the seller’s financial documents and records to determine our assessment of the value of the business.
Purchasing a business is by Cash, Owner Financing, Conventional, SBA loans and Private Lenders. If financing is required, the process should be started prior to the initial offer. Approval is a process and can take time, the sooner the better. Pre-approval of a loan can be valuable in the negotiating process. We have qualified lenders on my team.
I will be with you throughout the entire transaction. We will be in contact with each other but I will take care of the transaction from the beginning to closing.
Call me for a confidential discussion of your interest in buying a business. Larry @ 713-410-0686