Stipulations allowing buyer to adjust the purchase price in the event that: 1) undisclosed liabilities come due after settlement, and 2) actual inventory purchased does not match amount specified in sale agreement. Provisions that the business passes any and all necessary inspections, Provisions that final sale is contingent on verification of financial statements, license and lease transfers, Provisions that final sale is contingent on obtaining financing for purchase, Restrictions on business operations until final settlement, Non_competition and advisory clauses (these are sometimes arranged in a separate document), Allocation of purchase price
9. Describe what you would like to review during the due diligence period _ financial information, leases, rent roll, etcሂ. Include the earnest money you would be prepared to put down during due diligenceሃ. Identify a Closing Date target _ it may be within 30 or 45 days of conclusion of the Due Diligence Period. This will vary based on the projectሄ. End the letter stating if these terms are acceptable, to let you know and you will follow up with a formal Purchase Agreement to move forward on the purchaseህ. Sign the letter.