What is being sold? What is being sold? Assets of a businessStock / Shares of a business Business Assets Which assets will be purchased? Which assets will be purchased? ALL assets of the business.SPECIFIC assets of the business. Enter the Specific Assets being purchased: Stock / Shares Is the Buyer purchasing ALL of the Stock? Is the Buyer purchasing ALL of the Stock? YesNo The Buyer is purchasing: The Buyer is purchasing: a Specific Number (#) of Sharesa Percentage (%) of the Total Outstanding Stock Enter the Percentage (%) of outstanding shares: % Enter the Number (#) of Shares: Do you know the Class or Type of shares being purchased? Do you know the Class or Type of shares being purchased? YesNo Such as "Class A" Enter the Class or Series of stock being purchased: The Buyer What is the Buyer's Name? Do you know the Buyer's Address? Do you know the Buyer's Address? YesNo Buyer's Address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code The Seller What is the Seller's Name? Do you know the Seller's Address? Do you know the Seller's Address? YesNo Seller's Address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code Business Name What is the NAME of the Business being purchased? Business Address Enter the Business Address (optional) Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code Business State of Incorporation State of Incorporation (optional) Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming Business Entity Type Business Entity Type (optional) Business Entity Type (optional) CorporationLimited Liability Company (LLC)General Partnership (GP)Limited Partnership (LP)Other Enter the Entity Type: Liabilities Is the Seller retaining any LIABILITIES after the sale of the Business? Is the Seller retaining any LIABILITIES after the sale of the Business? YesNo Such as debts, litigation (legal cases), lease agreements, or any other liabilities. Enter the liabilities the Seller will retain: Purchase Price What is the Purchase Price? $ For the business. Payment How will payment be made to the Seller? How will payment be made to the Seller? Lump Sum (1-time payment)Multiple Payments (seller financing)Other Do you know when the 1st Payment will be due? Do you know when the 1st Payment will be due? YesNo This is the 1st payment made to the Seller as part of a set of payments until the total amount is paid. Enter the Date of the 1st Payment When are payments due? When are payments due? Every weekEvery monthEvery quarter Which day of the week? SelectMondayTuesdayWednesdayThursdayFridaySaturdaySunday Which day of the month? Select1st2nd3rd4th5th6th7th8th9th10th11th12th13th14th15th16th17th18th19th20th21st22nd23rd24th25th26th27th28th29th30thof each month The Purchase Price will be paid in the following manner: Deposit Will there be a Deposit? Will there be a Deposit? Yes (recommended)No What is the Deposit Amount? $ When must the Deposit be paid? withincalendar days of this Agreement being signed Inspection Period Will there be an INSPECTION PERIOD where the Buyer can review the records of the business? Will there be an INSPECTION PERIOD where the Buyer can review the records of the business? Yes (recommended)No When will the INSPECTION PERIOD end? Time AMPM Closing Date Do you want to enter the last day the Buyer has for a closing date? Do you want to enter the last day the Buyer has for a closing date? Yes (recommended)No The closing date is the day the Buyer must agree to purchase the property. It is usually no longer than 30 days from the Agreement date. What is the Closing Date? Non-Compete Will the Seller be restricted from competing in the SAME business? Will the Seller be restricted from competing in the SAME business? Yes (recommended)No Otherwise known as a "Non-Compete," it is common for a Buyer to require the Seller to sign a non-compete after the sale of the business. A non-compete is legal in every state if related to the sale of a business. Limitations The Seller will be prohibited from providing the following products and services: Term How long will the Non-Compete be in effect? 2 years is recommended. The maximum term is dependent on each state. Geographical Areas What GEOGRAPHICAL AREAS will the Seller be prohibited from competing in the same business? Are there any Additional Terms or Conditions? Are there any Additional Terms or Conditions? YesNo If the Buyer or Seller would like to add any additional language to this agreement. Add any Additional Terms & Conditions: Agreement Date Do you know the Effective Date of this Agreement? Do you know the Effective Date of this Agreement? Yes (recommended)No Usually today's date. Enter the Effective Date: Next Save Save and finish later
