Screening Prospective Buyers - A ChecklistPrior to discussing confidential information about business listings, prospective buyers are required to complete certain documents and forms. The forms serve two purposes. They protect the interests of the business owners and also enables a business brkoer to competently assist buyers in their acquisition search.
These documents are necessary to the process and are available on the Certified Business Brokers website at
http://www.certifiedbb.com/cbbforms.html. Some forms and information is particular to Texas business buyers, but most apply to anyone who is buying a business.
- Confidentiality Agreement
This document is also known as a Nondisclosure Agreement (NDA). - Personal Financial Statement
This provides insight regarding the prospective buyer's purchase price range and
net earnings requirements for an acquisition. - Buyer Information Form
This is usually completed in an interview format and provides a profile that, coupled with financial capabilities, will help match businesses with the prospective buyer's background and interests. - Real Estate Services Disclosure Form HAR-214
This provides information about brokerage services, as required by the Texas Real Estate Commission..
This information was provided by
Rose Stabler, Managing Partner at Certified Business Brokers in Houston, Texas.
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