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Weare looking at buying a cafe and would like to hold the property while we look over financials, equiptment e

Is there a form to put hold on a business

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Hello!

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Jun 1, 2017
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Try a deli and/or diner. It's hard work, but good rewards and fun. Plus in the right area it is an excellent investment that will grow. And you can do this anywhere there are people. We doesn't like to eat great food? Also, have 2 possible locations in Florida under a different name that may be available together or separate.

Nov 8, 2009
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The BAF Group LLC
MD

Unless you know the owner very well, and he/she is VERY understanding, the only way to do it is to make a valid offer in the form of a Letter of Intent (LOI), asking for a due diligence or study period before closing. In that LOI, you would ask for the business to be taken off the market for that period. An LOI does not necessarily mean the owner HAS to take it off the market, and frequently they don't. Whether he/she agrees will be reflective of how close to the asking price your LOI is, how short the due diligence period is and how confidently you project yourself as being able to close, once the study period is exhausted.

You may want to have an attorney do the LOI for you; you don't want to THINK you are writing an LOI, and find out you forgot something vital that causes you to lose any deposit or force you to purchase the property, regardless of your findings in the study period. Sometimes, an LOI can be a Contract of Sale, if it is written poorly.

Oct 20, 2009

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