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The Buyer meets
with the Broker in order to help him define the
type of business that best suits him according to
his tastes and preferences. |
| |
The Buyer signs
a Confidentiality Agreement, in order to protect
the interests of the business Sellers. |
| |
The Broker gives the Buyer confidential
information of the businesses that suit his profile. |
| |
In case the Broker
doesn't have any businesses that are of the liking
of the Buyer, he initiates a search in the city
or zone of his preference. |
| |
The Buyer visits the businesses
he is interested in the company of the Broker. |
| |
The Buyer makes
his selection and purchase decision. |
| |
The Buyer with the guidance of
the Broker, structure a Purchase Offer in writing,
in which the conditions and contingencies to the
purchase of the business are established. |
| |
The Broker presents
the written Purchase Offer to the Seller, accompanied
by a deposit as a gesture of seriousness of the
offer. |
| |
In case the Seller
agrees to the offer, he accepts and signs the Purchase
Offer contract. |
| |
The Buyer deposits
with the Broker in an escrow account the down payment
for the purchase of the business (normally 10% of
the total sales price). |
| |
The Buyer then commences
his investigation and verification of all the aspects
of the business (financial, legal, fiscal, etc.).
This stage is also known as the "Due Diligence"
process. |
| |
The final draft
of the Purchase Offer contract is then prepared
with the assistance of an attorney and is then passed
on to a Public Notary. |
| |
Between Buyer and
Seller a final count of the inventory is held and
the final sales price is adjusted. |
| |
Employees of the
business are fired or hired. |
| |
The Seller pays all the debts
pending that are not taken over by Buyer. |
| |
The final Purchase Offer contract is signed before
a Public Notary and the Buyer pays of the remainder
of the down payment or sales price of the business. |
| |
Finally, the Seller hands to
the Buyer the keys to the business. |
Independent of the process, every sales transaction
involvers closing costs for both the selling and buying
parties. Some of the most important costs for a Buyer
are: sales price or down payment, deposits, forward
rents or "key money", transference of contracts,
services, permits, licenses, lawyer and accountant fees,
remodeling of the business, additional working capital
and advertising, etc. |
