Do you need an attorney to review an offer to buy a business?

Reviewing the offer (or letter of intent) is a crucial step in selling your business, as an offer expresses the specific terms of the purchase. The buyer must communicate the terms they will enter into for the purchase. Then, the seller accepts the offer and the next step is the asset agreement.

Therefore, the seller must review the offer carefully to ensure it meets their requirements and expectations. Sellers must pay attention to the terms of the offer, including the price, payment terms, closing dates, warranties, and any other relevant details. Accordingly, it helps to ensure the terms of the offer meet the seller’s expectations and that they are aware of any potential risks or liabilities associated with the agreement.

If you have any doubts or concerns about the offer, seeking my assistance before accepting it is always advisable.