OFFER TO PURCHASE
THIS IS A LEGALLY BINDING CONTRACT IF NOT UNDERSTOOD, SEEK COMPETENT ADVICE.
Owner of recorded 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 only).and real estate if applicable.
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.$________________is to be paid in cash, certified/ bank check at closing.
d.$_______________ total purchase price exclusive of inventory & supplies.
2) This offer is good until ____ __.m.
on ___/___/ 2017 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 consideredas rejected and any money deposited herewith shall be returned to me forthwith.
3) The parties hereto shall,or before____ _.m. on or before __/__/ 2017 execute Asset Purchase and Sales Agreement which,when executed,shall be the Agreement between the parties hereto.
4) Closing shall take place at____ __.m.on or before _____/___/2017 at a mutually agreed location,unless other time and place is mutually agreed.
5) If you (Seller)do not fulfill your(Sellers) obligations under this Agreement,said Agreement, said Agreement shall be enforceable both at law and equity,(inclusiveof specific performance).
6) If I(Buyer)do not fulfill my obligations under this offer,the deposit mentioned above shall become your Seller property as liquidate damages without recourse to either party.
A fee will be paid by the Seller to Lee
Associates, the broker at closing.
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.he 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, Lee Associates and any other further deposits will be held by Lee Associates.
2-3 (page 3 signature page)
Witness my(our)hand(s)and seal (s)SIGNED
This Offer is accepted upon the foregoing
terms and conditions on ____ /___/2017
Witness my (our)hand(s)and seal(s)SIGNED _____________________
INDEMIFICATION & DISCLAIMER
All information is furnished by the Seller.
The Brokers(s) and Agent(s) do not certify, warrant, guarantee or make any representation. This information given is for sales purposes only and is subject to errors, omissions, or
can be withdrawn from the market anytime without further notice. Buyer(s) must use due diligence including, but not limited in hiring a competent legal counsel and financial advisor in making a decision to purchase.
The Broker(s) and Agents(s) in this agreement directly or indirectly,insofar as the provisions of this Agreement expressly apply to the representation of the business,and too any amendments or modifications of such provisions to which both parties agree in writing.Both parties are advised to hired legal counsel and
financial advisor in this transaction.
For good and valuable consideration,the receipt and sufficiency of which is hereby hold harmless and release Brokers(s) and Agent(s) from any claims of every manner and nature arising from or in anyway related to this transaction of the business as whether any of the above connection with the Broker(s) and Agents(s) or otherwise,
Broker(s) and Agent(s) represents the Seller(s) in this transaction and not the Buyer(s),in marketing negotiating and the sale of the business, unless otherwise disclosed.This
Agreement shall survive the sale of the business being sold to the Buyer(s).