Purchase Agreement

Closing Questionnaire

Our clients must fill out a Closing Questionnaire before we prepare the purchase agreement. The Closing Questionnaire must be completed by both you and the buyer. The purpose of this questionnaire is to provide a more formal statement of facts to serve as the basis for preparing the purchase agreement.

When you receive the Closing Questionnaire, review it several times before submitting it to us for the preparation of the closing documents, as answering it accurately and thoroughly will ensure a smooth closing. Please complete this as soon as possible. We cannot prepare the closing documents until we receive this questionnaire.

Purchase Agreement

If the buyer is an individual: We normally prepare the purchase agreement if the buyer is an individual. If that’s the case, we begin preparing a draft of the purchase agreement during due diligence. We first present the purchase agreement to you to review. Once you approve it, we then forward it to the buyer for review.

If the buyer is a company or private equity firm: The buyer will prepare the purchase agreement. If that’s the case, your attorney should be on standby to review and negotiate the draft of the agreement.

The purchase agreement often takes several weeks to finalize, so the process normally begins during due diligence to ensure an efficient closing with minimal delays. 

Click here for more information on the purchase agreement