Tip #47: Sellers must prepare their business for due diligence!
Joe Vagnone
Enhancing Small Business Value | Small Business Broker, Skilled at Maximizing Your Business Value | Designated Industry Expert, Author & Radio Host | "The Real Deal -for- Small Business" over 30 Years of Experience
"Due Diligence" or the "Right of Inspection" gives the buyer the full rights to inspect all items in a business -- financials, equipment, inventory, premises and anything else. And if the buyer finds any material discrepancies, he or she usually has the legal option of backing out. Some transactions fall apart during due diligence, only because the sellers have ignored fixing the problems of their business and just hoped for the best.
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