In part nine of our series on how to sell your company, we walked through the Due Diligence period. Now it might seem that the next natural step is the Closing period, but there is a lot of work to complete between now and Closing! So we have made room for a step in the process called Pre-Closing. It is during this step that a whirlwind of work is finished so that the buyers and sellers can be taken to close.
Pre-Closing includes a long list of tasks that need to be performed by the buyer, seller, and attorneys. The broker will compile a list of these items and manage the process to ensure they each get completed and that all i's are dotted and all t's are crossed. Some of the more complicated Pre-Closing items include performing the transfer of the lease, setting up a new entity for the buyer, and securing of financing (if necessary) to purchase the business.
For more information on everything involved in the pre-closing activities and how to sell your company, please schedule a complimentary consultation with one of our brokers today!
Rachael Holstein joined the Transworld Team in 2016 as Marketing Coordinator. Her working experience has been largely focused on Business Development and Marketing in the finance, architecture, property management, and information technology industries. A long time resident of Cleveland, Ohio, she attained her Undergrad from John Carroll University and a Master's Degree in Global Interactions from Cleveland State University. She relocated to Denver in 2013 for a change of scenery and a bit of adventure.