can you get financial records AFTER the business has been put up for sale if you are interested in it?

Question

if it hasnt been sold yet

but can you get the records after it has been put up for sale?

so people are waiting to buy it?

Answer 1

until the business is sold, the records and books of the business are usually available to be viewed. No one that i know would want to buy a business that they have not looked into.

Answer 2

There is an old adage advising that you shouldn’t buy a business unless you can do better than the present owner. Everyone has seen examples of a business that needs improvement in order to thrive, and a new Owner comes in and does just that and vise versa. It all depends!

It would be ridiculous to buy a business without seeing the financial records. In preparing to sell a business, sellers must gather documentation for potential buyers such as audited statements prepared by a reputable accountant will help establish the business credentials. Tax returns also offer proof of business performance. Generally, three years of financial records will serve to establish where the business is going and its profitability.

Other items include:

* Income statements
* Balance sheets and income tax returns from the last 3 to 5 years
* Records of accounts receivable and payable
* Copies of any notes or mortgages owed
* Existing contracts with employees, customers or suppliers
* Present lease
* Corporate books or partnership agreement
* Any patents, trademarks or copyrights

If this is a business you are truely interested in I would contact a broker who can determine if this business will work for your life style and also help you to ascertain if it is a good investment by using other reputable methods to value the businesses worth.

Some web sites to help you are:

http://www.lectlaw.com/files/bul18.htm
and
http://www.sba.gov/smallbusinessplanner/start/buyabusiness/index.html

Answer 3

YES. Public records. City Hall search. Call the city or call were the house is located ask for public records on addresss, etc. of this house. Realtor should tell u because it could default and be put back up for sale.

Answer 4

Are you interested in the business or just the assets of the business?
If they are just selling out all of the assets, then they may not wish to give you the business's books.
The sales agent should have the information and would be willing to share it.

Answer 5

Anyone selling a business is required to provide due diligence to all prospective buyers.