Once the banter and the to’ing and fro’ing of a Business Sale negotiation has got to the stage where both parties have agreed to “let’s do it!”, then a whole round of new “work” comes into play…
“Isn’t that the end of it once they agree?” I hear you ask.
Oh no, it’s not.
You then have to get all the details into the Heads of Agreement, which in turn feeds the contract, meaning getting into the Legals…
Given the serious nature of the Legal component, it’s almost like starting the whole negotiation again. Well, not quite but, much more attention is paid to the details on both sides, and rightly so too.
The key learning is that getting an agreement on price is only half the battle! There’s a whole lot more water to flow under the bridge before the money actually changes hands.
- what to do when an Offer to Buy (a Business) is not near where it needs to be?
- you want to sell your business, or maybe you don’t really…
- Offers, Offers everywhere, but not a Business Sale made… yet!
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