On Deal Talk, we often hear from former business owners who have sold their companies or professionals who are dedicated to helping entrepreneurs sell their...
How to Sell a Business: The Showing
The Purpose of Due Diligence
Is the buyer requesting too much information? Have you met with the buyer four, five or six times? You should explain to the buyer that this thorough investigation is done after an offer is made and accepted. This time period is called “due diligence.” Due diligence is typically 30 days; however, it can be any length of time that you and the buyer agree upon. The buyer can usually back out during this time period for any reasons. They should, however, make a reasonable effort during this period.