For Buyers
The process, step by step
Twenty-seven checkpoints, six stages, one goal: a clean process for you and full confidentiality for the seller. Here's exactly what happens, in order, before a business becomes yours.
In Realtor Punya's words
— Realtor PunyaI would like to inform all my valuable clients, especially buyers, that this is the process you need to follow if you would like to work with me on my listings.
My first priority is having a clear process and proper paperwork while maintaining the confidentiality of my seller clients.
So, please try to understand and agree to the process before reaching out to me regarding my listings.
Overview
Six stages, twenty-seven checkpoints
Every listing follows the same order, whether it's a single liquor store or a multi-pump gas station with real estate attached: paperwork before financials, financials before a contract, a contract before you spend a dollar on due diligence.
Your earnest money is protected
It stays fully refundable through due diligence, financing, and environmental review — three separate points where you can still walk away. It stops being refundable only once you proceed to closing.
Initial Requirements
Before a tour is ever scheduled
- 01Sign a mutual NDA. It protects the seller's confidential numbers and shows you're a serious, informed party.
- 02Provide proof of funds. A bank or lender letter confirming you can complete a deal at this price point.
- 03Confirm you're a motivated, qualified buyer. Ready to move on the right deal, not just browsing.
- 04Receive the business's address. Released only once the NDA and proof of funds are on file.
- 05Tour the property. On the terms set out in the NDA, professionally and discreetly.
Store Evaluation
Deciding if it's the right business
- 06If it's not the right fit. No hard feelings — the process ends here.Process ends here
- 07If you like what you see. We move forward together.
- 08Negotiate the price. Numbers get discussed openly, on both sides.
- 09If the price doesn't work. The process ends here, before any paperwork is signed.Process ends here
- 10If the price works for both sides. We move to paperwork.
Document Verification
Putting the offer in writing
- 11Sign a Letter of Intent (LOI). Puts your offer, and the seller's acceptance, in writing.
- 12Receive the seller's documents. Sales records, financials, and everything behind the asking price.
- 13If documents don't match what was represented. The deal ends here, before you've spent anything on due diligence.Process ends here
- 14If everything checks out. We continue to contract.
Contract & Due Diligence
Verifying the numbers yourself
- 15Draft and sign the purchase contract.
- 16Begin a 15-day due diligence period. Time built in specifically for you to verify the business.
- 17Verify the sales numbers personally. Visit, observe, and confirm the figures you were shown.
- 18If you're not satisfied. The contract cancels, no questions asked.Process ends here
- 19Your earnest money is refunded in full. Earnest money refunded
- 20If you're satisfied. The contract becomes binding.
Banking & Environmental
Financing and environmental review
- 21Start the banking and financing process.
- 22If the appraisal doesn't support the price. The process ends here.Process ends here
- 23If an environmental review turns up an issue. A TCEQ Phase One review, where the business has underground fuel storage, most often a gas station.Process ends here
- 24Earnest money is refunded. Earnest money refunded
- 25If everything comes back clean. We move to closing.
Final Closing
The finish line
- 26Proceed to closing. Every prior stage has already confirmed the numbers, the paperwork, and the financing.
- 27Earnest money is no longer refundable. This is the one point in the process where that changes.No longer refundable
Closing day. It's yours.
Ready to see a listing?
Now that you know the process, the first step is simple: find a business worth touring.