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Lawyer needed for sale of small business - review LOI and purchase agreement on seller side
We are a small service and online business based in the San Francisco Bay Area in business for the past fourteen years and are ready to retire. Sale price is likely to be under 500K. We have listed our business for sale on BizBuySell without the use of a broker since the owner, myself has been a licensed real estate agent in the past and has enough experience to negotiate the sale. We have an interested buyer who will be submitting an LOI this week. We are looking for a California licensed attorney to assist in the entire sale process including review of LOI, counter-offer(s) to the LOI if needed, review and make any necessary changes or changes to the purchase agreement. You will provide assistance and guidance throughout the process to the final close of escrow. We have "pre-negotiated" a lot of the points of the sale and expect a smooth process but need a lawyer to assist us to be sure everything is done properly and in both parties favor, but mostly to protect us of course. We anticipate a short 30 day due-diligence and escrow period prior to closing. As a summary, the business has six employees, including the two working co-founder owners (married couple). We have four minor shareholders with a total of 4.5% of the business and no voting rights. The buyer intends to purchase the business as an asset sale and not as an entity sale and intends on retaining the employees and continuing the legacy of the current owners/sellers. We have also discussed sellers financing terms with 50% or more deposit. To avoid any surprise expenses as we are on a tight budget, we would request a FIXED PRICE BID if possible. We look forward to hearing from you.
Keyword: Sales Consultant
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