Steps to Buying a Business...

The following list is a detailed step-by-step process for those interested in buying a business.

Call LGI Business Brokers
Arrange for a confidential appointment with a knowledgeable, professional, and experienced Certified Business Intermediary.

Provide Background Information
At the initial meeting, be prepared to provide your broker with personal information about your background, including your financial resources and funds available for investment.

Sign Non-Disclosure Statement
Prior to receiving information about any business sign an agreement not to disclose confidential information that may be provided to you by your broker.

Schedule Showings
An appointment will be arranged for you to tour the business you are interested in. You may also talk with the owner(s).

Offer
LGI Business Brokers will prepare the necessary papers for your Offer to Purchase. Your broker will assist you with information on any contingencies you may desire.

Presenting the Offer
Your offer will be presented to the seller by LGI Business Brokers. The Broker will provide your background information to the seller.

Seller's Response
The seller will accept, reject, or make a counter offer to the buyer.

Acceptance
Both parties must agree to all terms and conditions of the offer in writing.

Earnest Money
The buyer's earnest money is deposited in the escrow account of the broker, attorney, or closing agent.

Inspection
Buyer may inspect the financial records of the business as outlined in the Offer to Purchase.

Inventory
Merchandise inventory is taken by the buyer and seller and the amount of inventory is determined.

Closing
Broker, buyer, and seller are present at the closing attorney's office to sign the closing documents.