The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

What is the next step after I receive an offer for my business?

What paperwork do I need, contracts to produce. Government Requirements?

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (4)
No User Photo

We are financial consultants to a group of investors whom we have their consent to manage their funds which is in our custody for cooperation in joint venture business investments.

Our areas of interest include Property Development and real estate, Health Care, Education and training, Mining and exploration, Energy, oil and gas,Technology, Software development, Agriculture, Manufacturing, Finance Services and Leisure.However, all viable proposals within reason will be considered.

Funds shall be made available to you as a direct investment loan at 3% interest rate per annual for a period of 2 or 30 years depending on what you prefer. You may contact us if you have interesting investment proposal for possible business collaboration for our study.

We look forward to your reply to enable us provide you with details or you may visit our website.

Kindly acknowledge receipt of email.

Thank you.

Yours Sincerely
Jesse Peterson
phone: (980) 239-7539
email: info@interventionmortgagefirm.com
web: http://www.interventionmortgagefirm.com/

Aug 9, 2017
William A. Price
www.growthlaw.com
Business Lawyer
DuPage County, IL

The offer could take the form of an acquisition agreement, an informal phone call, a "term sheet", or some other communication suggesting willingness to deal. Your first step is to understand what the offer means. A signed contract doesn't bind you until you accept it, but could go away if you don't accept, and if the terms are satisfactory, you may want to sign and communicate that acceptance fast. Non-binding term sheets are more common, with most elements negotiable, and they stay non-binding even after your deal terms are generally understood by both sides, since the seller needs to do "due diligence" to verify your sales are what you say they are, your customers will continue to deal with them after sale, the employees they need will still be available, all taxes are paid, there are no environmental cleanup or other liabilities you haven't disclosed, etc... A final agreement is usually signed at closing, and you get the down payment if you negotiate an earn-out, or the full cash value of your shares or assets, if not. Your accountants, lawyers, bankers, business valuation people, and your environmental or other consultants (if there are liabilities to work out) should all be experienced in business purchase and sale, and should be able to help you through the process.

Hope this helps,

Bill Price
wprice@growthlaw.com

Mar 26, 2013
No User Photo
Keith Lynch
Sarasota County, FL

Bruce,

Congrats on receiving an offer on your business! That's the hard part. :) If you have an attorney or a business broker, consult them about the necessary steps. Every transaction is unique and may require it's own unique docs and agreements. Best of luck!
-Keith

Mar 18, 2013
No User Photo
The BAF Group LLC
MD

Get an Attorney.

Mar 8, 2013

Start a Discussion