Unlike most intermediary brokers, we step through meeting of minds of the seller and the buyer in three stages: 1st Stage: Our first stage is to get a Letter of Business Interest from the Buyer showing financial strength and experience to the seller for a meeting. If this stage goes past well, we go to next stage. 2nd Stage: The second stage is to prepare a Non-Binding Letter of Intent to formalize price and terms of Sale/Purchase based on the meeting of minds and have the parties to approve. 3rd Stage: In this stage, we prepare a Sale/Purchase Agreement in draft form, and have seller and buyer approve it by fixing their initials. We are then ready to prepare the final version of Sale/Purchase Agreement for legally binding contract and have the buyer and the seller to approve, generally with their spouses and partners. Sale/Purchase Agreements will always carry contingencies, which prepare the seller and the buyer for due diligence on the business, verification of statements, representations, and warranties given in the Sale/Purchase Agreement. Concurrent with it, an Escrow and Settlement attorney are involved for closing of the contract and distribution of proceeds when closed. Buyer must clear all contingencies in writing during the ‘due diligence’ stage; otherwise the deal falls through, and the buyer will get his or her earnest money deposited refunded.