YouTube Video – https://youtu.be/nGCGKXhrHh8 Due diligence is an extremely important part when it comes to mergers & acquisitions. That’s why you need to choose a business broker who will help you during the due diligence.
A lot of good and bad can happen during this process. It can be very stressful task for both buyers and sellers. A good business broker should help both parties during the due diligence.
A business broker has to advice the parties about certain procedures. There will be certain documents needed from both sides to ensure verification of the business. It should also be mentioned to keep emotions in check when certain items are questioned. The onus is on the seller to prove that he/she indeed has what was marketed. A business broker needs to be involved in every step of the way. He/She should be cc’ed on every communication and involved in any clarifications.
We at GillAgency had to step in multiple times on various transactions to save the deal because either the emotions got a hold of either party, the attorneys were fighting over non-issues, or the advisers of the parties didn’t agree on certain items. A business broker should also control the timeline of the due diligence otherwise it will get out of control really fast. We provide 30 days of due diligence and we inform both parties of this deadline. GillAgency also facilitate secure data rooms for either party to upload documents so that documents are not flying back and forth via email. We do not just strive to be number one in our industry. We relentlessly strive to be number one for our customers by choosing and working with best-fit clients.
Feel free to reach out to us to discuss further on this topic and don’t forget to visit https://gillagency.co/how-to-sell-my-business-a-step-by-step-guide#Rehearse_due_diligence for lot more insights.
