If a business broker is involved, these professionals will coordinate document requests and meetings between the parties' advisors, the business's landlord, lenders, and others.

5.  Closing

When due diligence is completed and the buyer is satisfied with all aspects of the business, the buyer will authorize an escrow officer to conduct lien searches and prepare final closing documents, such as a bill of sale, note and security agreement, closing statements, noncompetition agreements, leases, and approvals from various parties.  Once the closing documents have been approved by the buyer and seller, they can schedule a closing date.  On the closing date, the buyer will present a cashier's check for the full amount due.