Anyone have any copies of contracts I could take a look at? I'm working w/ a friend to buy a local grocery store and I want to get a contract w/ the owner to hold the store while I come up w/ the funds. TAI, Jason-
jason, having purchased businesses and real estate, i can only tell you to use an attorney.. do you have any friends who are attorneys??... review any documents/contracts that are drafted with an attorney.....
I am not a lawyer so this is not job security, but I own my own business and have been in business for about 25 yrs. now. Hire a good lawyer familiar with buy / selling of property and busniesses. You will spend a few hundred dollars up front but in the long run it will be money well spent. My $0.02.
Jason, everyone here is right. Find a good attorney who specializes in this stuff and find a good accountant. Together they can point out the things you have missed or not thought of. I've bought and sold a few properties and businesses over the years and my lawyer and my accountants fees seem really inexpensive compared to the savings I've gotten.
Don't go it alone. I felt like a kid {18} when I asked questions about a business, but I knew what I was doing was safe and smart. These people don't care if you are a total moron! They are more like machines, spitting out information. Take the advice from them and make yourself a star!
