What Should a Business Buyer Check?

Short Answer

Before buying a Miami business, review the seller's authority, entity and ownership, financial and tax records, assets, inventory, debts, liens, litigation, contracts, lease, licenses, employees, benefits, intellectual property, insurance, customer concentration, vendor dependence, privacy obligations, code and permit history, and required third party consents. Test whether revenue, margins, assets, approvals, and relationships are transferable. The purchase agreement should allocate risk through conditions, representations, covenants, indemnities, holdbacks or other negotiated protections appropriate to the transaction.

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Over 25 years representing business owners in disputes.
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When Does This Become Urgent?

• A letter of intent or deposit is due
• The business depends on a nontransferable lease, license, or owner relationship
• The seller limits access to records or pushes a rapid closing

What Usually Goes Wrong?

• Buying the story rather than verifying records
• Assuming licenses and contracts transfer
• Ignoring working capital and post closing transition

What Should You Have Ready?

• LOI and purchase documents
• Financials, taxes, and bank support
• Contracts, lease, licenses, and employee data
• Lien, litigation, asset, and ownership records

What Typically Happens Next?

1. Identify the business objective, current commitments, and decision deadline.
2. Review the entity records, contracts, approvals, and facts that control the issue.
3. Coordinate tax, licensing, employment, immigration, or other specialized advice where needed.
4. Document the chosen structure and complete filings, consents, and agreements in the correct sequence.

The appropriate sequence and documents depend on the entity, transaction, location, and people involved. This overview is not a prediction of process or outcome.

Related Questions

• Should I buy the assets or the entity of an existing Florida business?
• What liabilities can follow me when I buy a Florida business?
• What happens to the lease, licenses, employees, and contracts after a business sale?

Also review Buy an Existing Business in Miami, the Starting or Relocating a Business to Miami hub, and the Ask Aaron hub.

We Don't Make Promises. We Have Results to Prove It.

Aaron Resnick has handled business disputes in Miami since 1998 and is a fourth generation Miami resident. He works hands-on on every case; the client gets Aaron on every major litigation issue, not a junior partner. The Law Offices of Aaron Resnick represents large corporations, Miami businesses and their owners, professional athletes and entertainers in Miami Dade, Broward and Palm Beach counties and across Florida in business litigation and business counsel. Call 305-672-7495 or request a consultation.

This page provides general information and is not legal advice. Prior results do not guarantee or predict a similar outcome.

Reading this page or contacting the firm does not create an attorney-client relationship. Requirements and deadlines depend on the facts. If your matter is time sensitive, call the firm.