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Home > Tools and Resources > Buying a Business > The 15 Steps in the Buying Process

The 15 Steps in the Buying Process

By The BizQuest Staff
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  1. Consider, and make the initial decision to buy a business.
  2. Educate yourself on the type of business you want to buy.
  3. Determine how much you can afford to pay.
  4. Search for sources which list businesses for sale.
  5. Engage your professional advisors.
  6. Evaluate the businesses which are being offered for sale.
  7. Place a bid on the businesses in which you are interested.
  8. Negotiate with the sellers of these businesses.
  9. Execute a letter of intent with the proposed seller.
  10. Perform due diligence on the business.
  11. Structure, and complete documentation for the purchase.
  12. Obtain a contingent financing commitment.
  13. Sign the purchase agreement.
  14. Satisfy the conditions to the closing.
  15. Close the purchase.

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