At the beginning, an interview is set up between the Buyer and American Business Brokers to establish the Buyer's criteria and to determine his financial, technical and business abilities. In preparation for this initial meeting with your American Business Broker, the business buyer should complete our Buyers' Info Request.
The Buyer's criteria are utilized to identify potential acquisition candidates from the existing database.When the various business names are disclosed, you will be required to sign a standard "Confidentiality/Disclosure" form, buyer profile and a financial statement which, in most cases, is required by the business owner. Please complete the above forms and fax them to the number below.
The process of buying a business, plus the pertinent details of selected business opportunities, including financial information, are communicated to the Buyer.
Following the Buyer's research of the industry under consideration, a visit to the Seller's facility is arranged.
American Business Brokers works with the Buyer in developing offers. After the Buyer has visited the business and spoke with the Seller to obtain the information needed the Buyer will then submit an asset purchase contract to the Seller. This happens only after the Buyer has made a complete inspection of the business and has decided this is the business they want to purchase. The asset purchase contract contains the details of as to the price to be paid for the business, what assets are included in the purchase, the amount of training to be provided to the Buyer, the time period and area to be covered by a non-compete, if there is to be financing by the seller and the details of the financing. It also gives the Buyer time to acquire and review the financial records of the Seller. American Business Brokers works as an intermediary in negotiating the asset purchase contract between the Buyer and Seller.
During the due diligence period provided by the asset purchase contract, American Business Brokers works with the Seller helping him provide the Buyer with the needed information. Upon the completion of the due diligence period, the Buyer and Seller are ready for the closing.
American Business Brokers works with the Buyer in securing the approval of financing, the transfer of licenses, the assignment of lease and franchise rights, and the performance of due diligence for the target business.
An escrow attorney is retained by the Buyer and Seller to facilitate the closing of the sale. The attorney is responsible for filing the required paperwork, and ensuring that all licenses and leases are properly handled for the Buyer and Seller.
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