How do I get the financials of an existing business that I’m trying to purchase because going through a broker isn’t working?
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How do I get the financials of an existing business that I’m trying to purchase because going through a broker isn’t working?
And the seller for some reason want to meet you and want to know your personal assets and how much cash is available instead of sticking to the topic. Them wanting to sell. Restaurant, food industry. I’m getting a loan and because of no upfront cash it’s hindering me to get to the next part, seeing their financials.
Asked on July 24, 2014 under Business Law, New York
Answers:
Shawn Jackson / The Jackson Law Firm, P.C.
Answered 10 years ago | Contributor
First, have a "heart to heart" conversation with your broker on the importance and necessity of your due diligence in reviewing the minimum financial documents which include, at least, the last three years of profit & loss statement, the last three years of bank statements and cash flow statements along with the last three years of tax returns.
Shawn Jackson California Business Attorney
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