Owner of recorded Date
Business
I hereby offer to buy the business herein referred to and identified as follows: The equipment, fixtures, leasehold, improvements, trademarks, Of trade names (asset sales only) and real estate if applicable.
Business
Address
1) I/We hereby offer to buy said business under the following terms and conditions:
I will pay therefore exclusive of inventory and supplies
a) $
is herewith as a deposit to bind this offer.
b) $
is to be paid as an additional deposit upon signing of the purchase and
sales agreement between both parties.
c) $
is to be paid in cash, certified/ bank check at closing.
d) $
total purchase price exclusive of inventory & supplies.
2) This offer is good until
.m. on
at or before which time a copy hereof shall be signed
by you, the Seller, signifying acceptance of this Offer,and returned to me forthwith otherwise this Offer shall be considered as rejected and any money deposited herewith shall be returned to me forthwith.
3) The parties hereto shall, or before
.m. on
execute Asset Purchase and
Sales Agreement which, when executed,shall be the Agreement between the parties hereto.
4) Closing shall take place at
.m.on or before
at a mutually agreed location, unless
other time and place is mutually agreed.
5) If you (Seller)do not fulfill your(Sellers) obligations under this Agreement,said Agreement, said Agreement shall be enforceable both at law and equity, (inclusive of specific performance).
6) If I(Buyer)do not fulfill my obligations under this offer, the deposit mentioned above shall become your Seller property as liquidate damages without recourse to either party.
A fee will be paid by the Seller to Lee Associates, the broker at closing. Time is of the essence hereof.
1. Subject to Buyers satisfactory verification of gross sales & operating expenses, approval of books, records and tax returns.
2. Subject to Buyer transfer/ applying for all licenses and permits needed to operate business.
3. Subject to a non-compete agreement for
years and the radius of
miles.
4. Subject to Seller or designated employee to provide training for
weeks, full-time and
part-time, after closing. The Seller will be available for a period of
days consulting by phone, if needed.
5. All equipment will be in working order at closing. The Buyer will have an inspection of all equipment 3 days prior to the closing.
6. Subject to Buyer reviewing of lease franchise, dealer or distributor Agreement where applicable and approval of all mention and assignment,transfer of present terms & condition.
7.
If any of the above conditions are not satisfied by the Buyer or Seller the deposit will be returned to the Buyer and there will be not further liabilities to all parties.
Receipt of the deposit of $
is hereby acknowledged and held in escrow with broker, Lee Associates and
any other further
deposits will be held by Lee Associates.
Witness my(our)hand(s) and seal (s)SIGNED
(buyer's)
This Offer is accepted upon the foregoing
terms and conditions on
Witness my(our)hand(s) and seal (s)SIGNED
INDEMIFICATION & DISCLAIMER
All information is furnished by the Seller. The Brokers(s) and Agent(s) do not certify, warrant, guarantee or make any representation. This information given is for sales purposes only and is subject to errors, omissions, or can be withdrawn from the market anytime without further notice. Buyer(s) must use due diligence including, but not limited in hiring a compe- tent legal counsel and financial advisor in making a decision to purchase.
The Broker(s) and Agents(s) in this agreement directly or indirectly,insofar as the provisions of this Agreement express- ly apply to the representation of the business, and too any amendments or modifications of such provisions to which both parties agree in writing. Both parties are advised to hired legal counsel and financial advisor in this transaction.
For good and valuable consideration, the receipt and sufficiency of which is hereby hold harmless and release Brokers(s) and Agent(s) from any claims of every manner and nature arising from or in anyway related to this transaction of the business as whether any of the above connection with the Broker(s) and Agents (s) or otherwise, Broker(s) and Agent(s) represents the Seller(s) in this transaction and not the Buyer(s),in marketing negotiating and the sale of the business, unless otherwise disclosed. This Agreement shall survive the sale of the business being sold to the Buyer(s).
Date
Buyer
Seller
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