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The dictionary definition says that due diligence is “the care that a reasonable person exercises to avoid harm to other persons or their property.” In plain English,due diligence means doing your homework. Before putting your business funds to work on anything, you should make yourself an expert.What to expect during due diligence?
For most sellers the due diligence process is stressful and demanding. Due diligence is often the most stressful part of any deal, for both buyer and seller. Knowing what to expect can greatly reduce that stress, make the process go more quickly, and also reduce the possibility of a renegotiation or cancellation from the buyer.What happens during due diligence?
What Happens During Due Diligence. The process helps ensure that your money is being well spent. You will have your professional advisors, such as an attorney who specializes in business purchases or mergers and acquisitions as well as your accountant or CPA, examine the Seller’s P&L statements, tax records, any insurance claims, lease agreements,...