THE BUYING PROCESS
<!--[if !supportLists]-->1. <!--[endif]-->Consider, and make a decision to buy a business.
<!--[if !supportLists]-->2. <!--[endif]-->Research and educate yourself as to the type of business you wish to buy.
<!--[if !supportLists]-->3. <!--[endif]-->Determine how much you can afford to pay.
<!--[if !supportLists]-->4. <!--[endif]-->Search for sources that list businesses for sale.
<!--[if !supportLists]-->5. <!--[endif]-->Engage professional advisors.
<!--[if !supportLists]-->6. <!--[endif]-->Evaluate the businesses being offered for sale.
<!--[if !supportLists]-->7. <!--[endif]-->Place an option on the business in which you are interested.
<!--[if !supportLists]-->8. <!--[endif]-->Negotiate with the sellers of the business.
<!--[if !supportLists]-->9. <!--[endif]-->Submit an offer subject to a due diligence.
<!--[if !supportLists]-->10. <!--[endif]-->Perform a due diligence on the business.
<!--[if !supportLists]-->11. <!--[endif]-->Structure and complete documentation for the purchase.
<!--[if !supportLists]-->12. <!--[endif]-->Obtain a contingent financing commitment.
<!--[if !supportLists]-->13. <!--[endif]-->Sign the purchase agreement.
<!--[if !supportLists]-->14. <!--[endif]-->Satisfy the conditions to the closing.
<!--[if !supportLists]-->15. <!--[endif]-->Close the purchase.
WHAT TO LOOK FOR WHEN BUYING A BUSINESS
<!--[if !supportLists]-->1. <!--[endif]-->What are the reasons for selling?
<!--[if !supportLists]-->2. <!--[endif]-->What track record does the business have?
<!--[if !supportLists]-->3. <!--[endif]--> Identify key customers and suppliers and establish their trading terms.
<!--[if !supportLists]-->4. <!--[endif]-->View and obtain copies of all legal contracts. Pay special attention to the lease agreement covering Business premises.
<!--[if !supportLists]-->5. <!--[endif]-->Establish what assets are encumbered.
<!--[if !supportLists]-->6. <!--[endif]-->Ask for details of current or pending litigation that the Business might be involved in.
<!--[if !supportLists]-->7. <!--[endif]-->Establish external factors that might negatively affect the business.
<!--[if !supportLists]-->8. <!--[endif]-->Find out whether any other party holds any right or title to the business.
<!--[if !supportLists]-->9. <!--[endif]-->Ensure that there are no disputes with the Revenue Service that might impact on future payments.
<!--[if !supportLists]-->10. <!--[endif]-->Do not accept any figures at face value. Have them checked out by a Professional and request certification by the External Accountant to the Business.
<!--[if !supportLists]-->11. <!--[endif]-->Is the Seller prepared to sign a Restraint of Trade agreement when a sale is concluded?
