Step 1. Find a Business for sale at BusiMarket.com site for businesses for sale and commercial property for sale on the market. As soon as a property is found, make any necessary contacts to sellers.

Step 2. Get Purchase and Sale AgreementGet the sale agreement from Brokers, attorneys, or Escrow companies.

Step 3. Find a LenderFind a Loan Officer that will take care of your financing needs.

Step 4. Prepare Required Documents – Purchase and Sale Agreement for the Business or Commercial Property,
– Personal Financial Statement provided by the lender,
– Income tax returns from both buyer and seller from the last three years
– an up-to-date income statement,
– Resume from the buyer,
– Lease Agreement(if applies),
– Assignment for Lease (if applies),

Step 5. Finally, wait for the loan approval (usually takes 2-4 weeks)

Since the financing process can be different on type of business, location, and buyer’s situation. The information above is for information only and BusiMarket.com does not guarantee accuracy of information.

More info’s and free registrations (restricted to pros), please join our live seminar

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Simple Business selling guide will provide easy simple direction to business seller what to do on business selling process.

1. Determining the fair market value of the business
2. Set Preparing all books and records for prospective buyers
3. Putting the business on the market
4. Dealing with the potential buyer
5. Recieving an offer
6. Negociation – Price, Terms, and Condition
7. Accepting an offer
8. Provide all necessary books and records to the buyer
9. Work with the buyer to remove all contingencies of the contract
10. Signing the closing statement (1~3 days before the closing date at the escrow)
11. The night before the closing date
12. The closing date

More info’s and free registrations (restricted to pros), please join our live seminar

The post Business Selling Process (Simple) appeared first on Dr. Wael Badawy.