Buyers and Due Diligence

3 Things Buyers Need to Supply
The seller needs to know a little bit about the buyer before completing a deal. A good seller concerned with the clientèle or customers will be concerned that the buyer is the right person to take over from. The seller would not want the buyer to run the business down and therefore end up causing problems, especially if the seller decides to leave in some vendor finance.

The 3 things a seller will want from the buyer include:

1. The seller will want a good price for the business.
2. The seller will want a fair deposit to show good faith.
3. The seller will need full details of the buyer’s background, as well as his/her financial position. The seller will need to be confident that the buyer is able to complete the deal.

What do Buyers Want?
A buyer is looking for a business with a cash flow that can cover its operating expenses and other costs and in the end produce a profit. The buyer will want a salary from the business, as well as sufficient revenue to meet any financing costs incur...