Business Selling Guide Detail

Title: Business Selling Guide (Detail) Word Count: 578 Summary: Business selling process can be very easy with this useful guide wich will guide you through the business selling process. You can find out what to prepare and what to expect. The following information is basic steps of business selling process for business for sale for seller. Keywords: business for sale, businesses for sale, small business for sale, buy a business, sell a business, buying a business, selling a business Article Body: Business selling process can be very easy with this useful guide wich will guide you through the business selling process.

You can find out what to prepare and what to expect. The following information is basic steps of business selling process for business for sale for seller. BusiMarket.com does not guarantee or indorse the accuracy of information. 1. Determining the fair market value of the business The business value really depends on the type, the age, and the location of the business. For more accurate information, We highly recommends discussing values and amounts with your business broker, attorney, or loan officer.

If you already know what your asking price going to be, you can move on to next step. 2. Preparing all books and records for prospective buyers Things to include in your business books / records: last 3 years of busines income tax return up-to-date Profit & Loss Statement / Balance Sheet a copy of the Original Lease & Sublease Agreement an up-to-date equipment list. 3. Putting your business on the market . The following are options for putting your business on the market: Input your business on Business Multiple Listing Service Sites like BusiMarket.com – Business For Sale or Companies like us Advertise in a local newspaper Hire a real estate broker or agent.

4. Dealing with Potential Buyers Evaluate the Buyer: Is the buyer financially secure? How to life hacks much business experience does the buyer have? Is the buyer serious about buying your business? 5. Recieving an offer The buyer writes an written offer and presents it to the seller. If there is a real esate agent involved, then the agent will deliver the written offer to the seller. 6. Negociation – Price, Terms, and Condition The seller and the buyer negociate the price, terms, and conditions.

7. Accepting an offer At the end of the negociation process the buyer and seller must sign and date every page of the Purchase and Sale Agreement. 8. Provide all necessary books and records for the buyer Usually within 1-2 business days after mutual agreement. 9. Work with the buyer to remove all contingencies of the contract. 10. Signing the closing statement (1-3 days before the closing date) After the buyer removes all contingencies on the Purchase and Sale Agreement, both the buyer and the seller make an appointment with the Closing/Escrow agent to sign the closing statement – usually 1-3 days before the closing date.

The buyer should call the escrow agent and find out the total amount of money that needs to be prepared (usually casher’s check or money order) for the remainder of the down payment.