On average, a house will sell within four months of its listing. However, it may take nine months to a year to sell a business. When an offer is made to buy a business there are several choices the seller can make. The seller may accept the offer, make a counter offer, or reject it entirely. The agreement becomes a binding purchase offer once all parties agree to the terms and conditions.
There are some decisions that need to be made when making a sale, they include the following: Will seller financing be offered, will the business be sold entirely or as assets, will any assets be kept by the seller, will a majority stake be kept by the seller, and will a year of transition time be put into place after the business is sold?
It may serve the buyer to do due indulgence by inspecting all aspects of the business operation, and that all contingencies are removed.