Buyers are encouraged to make a subject to contract offer as early as possible in the process. We will ensure that Buyers receive only the level of information which is reasonable prior to making an offer - this will usually be little more than has already been provided in the Confidential Briefing Document.
Most buyers, who are minded to do so, will make an offer following the first meeting with the vendor and visit to the business.
As specialist business transfer agents, Anderson Shaw will lead the negotiations - we have many years' experience of getting the most out of the deal for the vendor. The end result of the negotiations is a Heads of Terms document signed by both sides.
The Heads of Terms document is essentially a memorandum of understanding (which we will draft on your behalf), setting out in reasonable, unambiguous, detail the main points of the agreed deal. At this stage, few of the terms are legally binding. However, there is usually a binding clause which grants the buyer a period of exclusivity, during which the vendor agrees not to contact any other buyer.
The next stage is Managing Legal Stages.
To start the conversation about selling a business, please Contact Us or call us on 02476 100476 for an informal chat and in complete confidence.