It really depends on each circumstance, which lender is involved, the understanding between parties, amongst other factors. You want enough money coming in cash to be reasonably confident that the transaction will go smoothly and that you’ll get the full amount of the purchase price. Financing structures range from 80% cash to balance payout within 6 months of conditions being met, to fully leveraged buyouts where the clients will step in with very low cash upfront, but payout over a timeline that is appropriate as the buyer gets comfortable with the business. Sometimes it’s an all-cash purchase, however, these are rare, as the purchaser wants some assurance that you still have some skin in the game during the transition period. All of these details will be brought to the table by good representatives (broker, lawyer, accountant) to ensure that the majority of the questions are answered.