Buying Process

You sign an agreement promising to maintain confidentiality for all the information provided to you on the businesses we discuss.

You provide us with information about yourself such as a buyer profile and financial statement. The more we know about you, the more likely we can match you up with a business for sale that you like. The more information we provide the seller, the better the terms he or she will consider.

Together we discuss and review various types of businesses and select some that may appeal to you.

We introduce you to the businesses you are interested in and discuss the important factors of each.

We provide the seller with information regarding your background, financial wherewithal, and professional experience. Favorable background information about you will result in favorable consideration of your offer.

A meeting between you, the seller, and your intermediary from VR Charlotte may take place. This meeting gives you the opportunity to ask questions about how the business operates and to describe your qualifications to the seller.

With our assistance, you write an offer to purchase the business. A refundable, earnest money deposit will be required to demonstrate your seriousness to the seller.

We carefully explain the terms and conditions of the offer to the seller and decision makers.

The seller accepts the offer to purchase as presented or writes a counteroffer.

When buyer and seller agree to all terms and conditions of the sale, the offer becomes a Purchase and Sale Agreement.

You meet with the seller to examine the financial records. Any questions you have are resolved at this time. We work with the landlord to get an assignment of the current lease for you. Trusted advisors including your CPA, bank and attorney may become more involved.

All offers contain contingencies that must be removed before the contract is binding. Typical contingencies include your inspection of the books and records, the assumption of the lease, and attainment of proper financing.

We provide all documents to the transferring agent or attorneys so they can prepare the closing documents. They make arrangements to assign any notes or equipment leases.

Arrangements are made for you and the seller to count and price the inventory (if required).

Signing of the final closing documents may be done in person or remotely in conjunction with the attorneys working on the transaction.