What are you buying? If it is a stock purchase is it a C Corp? S Corp? LLC?
- Is the business in good standing with the state and feds?
- Any pending lawsuits? Governmental proceedings?
- Survey on land
- Any independent contractors that should have been classified as "employees"
- what is the property zoned?
- Can any of it be sub-divided at a later date and sold off?
- Does the owner really own it? Do they have the legal authority to sell?
- Any workman comp claims? Unemployment claims? -any patents or copyrights of logos?
- Any business license and are the transferrable?
- Any tax registration certificates? Are they transferrable?
- Is the business in compliance with zoning laws?
- Any toxic waste or environmental problems
- Do they own photos, testimonials that may be used in print collaterals or the website?
- Any employee contracts with non-competes?
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