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VR Corporate

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200 Frandorson Circle Suite 200 Apollo Beach, FL 33572 Phone: (813) 260-3127 Fax:
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The Buying Process

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Congratulations on taking the first step in owning your own business.  We realize that finding and buying a good business isn’t easy, and may be one of the most important decisions in your life.  For that reason you should contact VR Business Brokers for Valued Representation. VR designed a unique Buying Process that will take you through to the finish line and the successful purchase of your business. The process consists of the following steps.

Commitment: Your commitment to purchase a business at price and terms consistent with the marketplace that matches your needs and abilities.

Non-Disclosure Agreement: You sign an agreement promising to maintain confidentiality for all the information provided to you on the businesses we review, discuss, or present.

Buyer Profile: You provide us with information about yourself such as a resumé, financial statements, and available capital to invest. The more we know about you, the more likely it is we can find a business for which you are qualified to acquire. The more information we provide to the seller and financing sources, the stronger your negotiating position.

Opportunity Review: We will discuss and review various types of industries and specific businesses, and select some that appeal to you and which you are qualified to acquire. You will have the ability to review confidential business profiles that, in part, summarize the businesses, its financial information, and facility and lease information.

Business Presentation: We will introduce to you the businesses you are interested in and discuss the opportunity surrounding each.

Meeting with the Seller: A meeting between you, the seller, and your VR Business Intermediary may take place. This gives you the chance to ask questions you may have about how the business operates and allow the seller to feel comfortable in who is acquiring their business.

Offer to Purchase: With our assistance, you prepare an offer to purchase on the business you like. In addition, you will need to include an earnest money check along with the contingencies that are to be satisfied during due diligence.

Present Offer: Your VR Intermediary will present your offer to the seller, and explain the terms and conditions of our offer to the seller and their decision makers.

Background: With your approval, your VR Intermediary will provide the seller with your background and financial information, and point of view in arriving at the offering price and terms and conditions. Favorable background information about you will result in favorable consideration to your offer.

Acceptance or Counter Offer: The seller will either accept the Offer to Purchase as written, or will present a counter offer. Once the buyer and seller agree to all terms and conditions of the sale, sign all counter offers and amendments, if necessary, you have mutual acceptance and it then becomes a contingent purchase agreement.

Due Diligence and Inspection: At this stage the examination of financial records and other operational, inventory, management and lease reviews take place. The due diligence and inspection stages are critical for the buyer to confirm that what the seller has claimed to be is truthful and accurate, and meets the conditions of your offer.

Contingency Removal: You remove all contingencies as each is resolved or met in the agreement. Once completed, it is a binding agreement.

Escrow: We will provide all of the applicable documents to the closing attorney so they can prepare the closing documents.

Lien Search: Your legal representative or the closing attorney performs a lien search on the business to identify any secured creditors, as well as an investigation for tax clearances. Liens will be removed prior to closing.

Business License: With the aid of your advisors, you will obtain the necessary insurance, licenses, to operate your business.

Lease Assignments: The seller’s landlord may require the assignment of the existing lease or an entirely new one. You will collaborate with the seller and the landlord to obtain the necessary documentation for closing.

Note and Equipment Lease: Your VR Intermediary will work with you, the seller, and your team to have any agreed upon notes and equipment leases assigned to you or your new corporate entity.

Inventory: You and the seller will count and price the inventory if it applies to the business you are acquiring.

Closing: All of the closing documents are signed.

Training: Agreed upon training with the seller commences after the closing and during the change of possession.
  • (813) 260-3127
  • 200 Frandorson Circle Suite 200 Apollo Beach, FL 33572

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