47_no_bank_statements“Due Diligence” or the “Right of Inspection” gives the buyer the full rights to inspect all items in a business — financials, equipment, inventory, premises and anything else.

And if the buyer finds any material discrepancies, he or she usually has the legal option of backing out.

Some transactions fall apart during due diligence, only because the sellers have ignored fixing the problems of their business and just hope for the best.

Michael MarksMichael Marks, creator of Toons ‘n Tips, is a Certified Business Intermediary (CBI) and has over thirty-six years of business experience and ownership. He is a licensed real estate broker in the state of Colorado and has been selling businesses for over eighteen years. Michael has taken up cartooning as a hobby in recent years and has found that by using those skills, along with his extensive business experience, he has been able to create the Toons ‘n Tips drip marketing service for clients all over the country. Find out more about Michael at www.toonsntips.com.