You will probably find yourself disagreeing with a seller on the value of a business. A fairly priced business for one may be overpriced for someone else. When all else fails a professional valuation is the best way to get an objective third party opinion. The Business Brokerage Group has the expertise in the valuation of privately held companies that you need. You can certainly make some tests on your own to determine if the business that you are looking at is reasonably priced and makes economic sense.
Value is one part of the equation, the other is structure.
You will need to take a close look at the mix of assets and earnings to determine how you should buy the company. The Business Brokerage Group always determines the best purchase structure for you and your target company.