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Offer To Purchase Example

When entering into an agreement to purchase a business a broker will likely offer a buyer this type of document to sign when an offer is made and a deposit is taken.

 

THIS IS A LEGALLY BINDING CONTRACT.

IF NOT UNDERSTOOD, SEEK COMPETENT ADVICE BEFORE SIGNING.

Business: __________________________________________
Date: ________

I hereby offer to buy the business herein referred to and identified as follows:
The equipment, fixtures, leasehold, improvements, trademarks, trade names, asset sales 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. $_______________ is total purchase price exclusive of inventory & supplies.

2) This offer is good until ____ _____  _____
on ___/___/ 2014 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____ ___ on or before __/__/ 2014 execute Asset Purchase and Sales Agreement which, when executed, shall be the Agreement between the parties hereto.
1-3

4) Closing shall take place at___________________ on or before _____/___/2014 at a mutually agreed location, unless other time and place is mutually agreed.

5) If you (Seller) do not fulfil your (Sellers) obligations under this Agreement, said Agreement shall be enforceable both at law and equity, inclusive of specific performance.

6) If I (Buyer) do not fulfil my obligations under this offer, the deposit mentioned above shall become your Seller property as liquidate damages without recourse to either party.

Time is of the essence hereof.

Additional terms and conditions.

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 (___) week, part-time, after closing.

The Seller will be available for a period of (___) for
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.

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

Purchaser Name: ____________________________________

Purchaser Signature: _________________________________

Purchaser Name: ____________________________________

Purchaser Signature: _________________________________

Date: _____________

Seller/Broker Name: __________________________________

Seller/Broker signature ________________________________

Date: _____________

Witness name: ______________________________________

Witness Signature: ___________________________________

Date: _____________

 

 

Download this Offer To Purchase

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December 18, 2009
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