Is due diligence straightforward?
Due diligence (DD) is described as a comprehensive appraisal of a business, undertaken by a prospective buyer. Many Practice owners will only go through the process twice in their life – once when buying and again when selling, but all the work really lies with the vendor
The buyer asks the questions (via their solicitor) and the vendor answers them (via their solicitor). The answers have to be complete and accurate. The disclosure letter is provided at the end of the process. The Disclosure Letter is a key document in any company sale or purchase. It is the seller’s opportunity to make ‘disclosures‘ against the warranties which the buyer will require the seller to give.
A methodical and very organized approach is the only way to deal with DD – the answers to hundreds of questions have to be provided and then supporting information provided. We can help you navigate through the due diligence, just give us a call.