Step 4 - Close

Congratulations! You are one step closer to closing on the sale of your business.

Many of our clients come to us looking for a trustworthy advisor to help guide them through the complex process of selling a business. They want good advice without high fees and conflicts of interest.

We have designed a revolutionary new process for closing the sale of your business that is simple, transparent and highly effective. We guide you through the entire process for one low, flat fee. Nothing is left to chance. We work with you as a partner throughout the process, handling all the technical details and walking you through the process step by step.

We can help you turn that offer into a sale and save you money on attorney fees. Our closing services are available even if you haven’t used any of our other services. That’s the benefit of working with Morgan & Westfield. We can help you with the entire sale process - or any part of it.

We offer assistance from experienced experts. If you have identified a buyer who is interested in submitting an offer, Morgan & Westfield can handle it for you at a low cost. We have all the necessary forms in place to manage the transaction. Once a qualified buyer is identified, we can assist you from start to finish.

We help you with things like deal structuring, financing, and numerous other creative solutions that are often required to successfully sell a business in today’s marketplace. 

We prefer to take a team-based approach in helping you. You will know exactly what to expect and what you are going to pay. And best of all, we give you access to the exact same resources traditional brokers use, all at a fraction of the cost.

You get the benefits of the same processes and resources the best brokers in the country use, but without the high fees and long-term contracts.

Morgan & Westfield is about relationships. We want to be your advisor throughout the entire sale process, including being an integral part of a successful closing.  

Our Role: Traditionally, a business seller would have to transact with many different parties to complete the sale – an attorney, an accountant, a broker, a real estate agent, a closing agent, an escrow agent, various government agencies, and so on. Typically, some important part of the process is neglected in the rush to finish the sale. We simplify the transaction by coordinating these different resources, making sure nothing is left to chance. For example, we help prepare documents, facilitate escrow, or help interpret business information. 

Your role: You will be very involved in the due diligence process once an offer is accepted. Preparing for the transition can be time-consuming, which is why we ensure the buyer is screened before you invest time.

Fees: 5% of the purchase price, only upon a successful closing. The fee is reduced 50% if you bring your own buyer.

Offer, Due Diligence and Closing

In step four, we help negotiate the basic terms of the transaction. Once terms are agreed upon, we assist you in closing the transaction, which includes drafting a basic offer to purchase, addenda, transaction timeline and a due diligence checklist. We orchestrate the entire due diligence and closing process for you. You are rewarded with lower legal fees, fewer unwanted surprises and a mutually satisfactory and profitable experience.

Step 4 Pricing

  • Services: Step 4 includes preparation of the offer to purchase, managing the due diligence process and orchestrating the closing.

  • Fees: Fees are generally 5% of the purchase price of the business and only paid upon a successful closing. The fee is discounted 50% for any buyers you bring to the table.

Frequently Asked Questions

  • Do full-commission business brokers usually include escrow fees in their total fee? No. You must typically pay your professional advisors (accountants, attorneys, etc.) and escrow agents in addition to the broker fee. Brokers typically do not include fees paid to third parties, such as the closing agent or CPA.

 
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The Complete Guide to Selling a Business

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