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I decide to buy a business What should I do? Thanks!

Do I need an accountant before I give an offer? How would he help me? Are there any other things that I need to know? I need some advice. Thanks!

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Answers (2)
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Blackburn & Fears Inc
Principal
FL

I gather there will be an offer then a period for full due diligence. If the seller has turned over enough tidy financial info for an accountant to give an opinion about then go ahead but I would wait until you have all of the financial data. Otherwise just get an LOI with all of the proper contingencies.

Bear in mind (and I am pandering to my own firm's services) there is a lot more to due diligence than the financials most of which neither an accountant nor an attorney perform as a matter of course.

May 9, 2012
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The BAF Group LLC
MD

Yes, if you are uncertain of the value, see an Accountant who can give you an idea of how much the business is doing and how much you should offer. You might also make an offer through an attorney, so that your Letter of Intent does not put you in a position where you cannot escape, if you find out the business is not all the Seller says it is.

May 7, 2012

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