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About Us
For Buyers
For Sellers
Current Engagements
News
Contact
Experience. Trusted.
Seller’s Disclosure
Business Name
(Required)
Owner Name
(Required)
First
Last
Business Address
(Required)
Street Address
Address Line 2
City
State / Province / Region
ZIP / Postal Code
Title
(Required)
Date
(Required)
MM slash DD slash YYYY
Seller's Disclosure Statement
This series of questions and answers is to inform prospective buyers about this business. It is supplied by the seller to provide relevant information and to answer frequently asked questions, but it does not take the place of the buyer's inspection of the business and its financial and other records. Those must be carefully examined and approved by the buyer. The broker has not verified the accuracy or completeness of any of the information supplied here by the seller.
THIS SECTION TO BE COMPLETED BY THE SELLER PLEASE EXPLAIN ALL "YES" ANSWERS ON THE ADDENDUM
1. Are you aware of any circumstances in the industry or market area that may adversely affect future profitability of the business?
(Required)
- Choose -
Yes
No
Explain
2. Are there any revenues or expenses of the business that are not clearly reflected in its financial statement?
(Required)
- Choose -
Yes
No
Explain
3. Is the business in default of any of its financial or contractual obligations?
(Required)
- Choose -
Yes
No
Explain
4. Has the business or any of its owners been the subject of any bankruptcy filing, assignment for benefit of credits or insolvency proceeding of any kind during the last five years, or consulted with any attorney or advisors regarding such proceedings?
(Required)
- Choose -
Yes
No
Explain
5. Are there any individual customers who account for more than 10% of annual gross sales? If yes, list each by name and indicate the appropriate percentage of annual gross sales and any relationship to the business or its owners.
(Required)
- Choose -
Yes
No
Explain
6. Are there any commitments to employees or independent contractors regarding future compensation increases?
(Required)
- Choose -
Yes
No
Explain
7. Are there suppliers who have a personal or special relationship with the business or its owners? If yes, list each supplier, the nature of the relationship, and the approximate amount of annual purchase.
(Required)
- Choose -
Yes
No
Explain
8. Are there any supply chain issues in the business?
(Required)
- Choose -
Yes
No
Explain
9. Are any of the employees or independent contractors related to any of the owners of the business or one another? If yes, list them by name and describe their relationship.
(Required)
- Choose -
Yes
No
Explain
10. Have you had or do you anticipate any disputes with the Landlord or problems with the premises the business occupies?
(Required)
- Choose -
Yes
No
Explain
11. Is the lease assignable?
(Required)
- Choose -
Yes
No
N/A
12. Are there any terms or conditions of the premises lease with which the business or the Landlords not in full compliance?
(Required)
- Choose -
Yes
No
N/A
Explain
13. Have there been any deaths, violent crimes, or other criminal activity on the premises within the last three years?
(Required)
- Choose -
Yes
No
N/A
Explain
14. Are you aware of any substances, materials, or products on or near the premises which may be an environmental hazard such as, but not limited to, asbestos, formaldehyde, radon gas, paint, solvents, fuel, medical waste, surface or underground storage tanks, or contaminated soil or water?
15. Is there any equipment used in the business that it does not own?
(Required)
- Choose -
Yes
No
N/A
Explain
16. Is there any equipment used in the business that is not in good or operable condition, or for which maintenance has been deferred?
(Required)
- Choose -
Yes
No
N/A
Explain
17. Does the business have a franchise, distributorship, or licensing agreement? If yes, please provide a copy of each.
(Required)
- Choose -
Yes
No
N/A
Explain
Regulations
1. Is the business or its operator required to have any licenses or permits other than a local business license?
(Required)
- Choose -
Yes
No
N/A
2. Must the new owner personally qualify for any license or permit?
(Required)
- Choose -
Yes
No
N/A
4. Are there any alleged violations filed or under investigation by authorities issuing licenses or permits by the following agencies? Police Department, Health Department, Fire Department, Building Inspector, Zoning Commission, Water Pollution Control Agency, Environmental Protection Agency, OSHA, EEOC, EDD, Alcoholic Beverage Control, IRS, Board of Education, Franchise Tax Board, Immigration/Naturalization Svc, Other
(Required)
- Choose -
Yes
No
N/A
3. Are you aware of any pending zoning changes, redevelopment, nearby construction, or condemnation that might affect your business?
(Required)
- Choose -
Yes
No
N/A
C. Legal Considerations
Does the business have any of the following?
1. Union or other employment agreements?
(Required)
- Choose -
Yes
No
N/A
2. Any employee hired after November 6, 1986, without a completed INS form I9 on file?
(Required)
- Choose -
Yes
No
N/A
3. Employee stock ownership place (ESOP)?
(Required)
- Choose -
Yes
No
N/A
4. Unfunded pension liabilities?
(Required)
- Choose -
Yes
No
N/A
5. Profit sharing plan?
(Required)
- Choose -
Yes
No
N/A
6. Back wages or claims for same?
(Required)
- Choose -
Yes
No
N/A
7. Unpaid medical or other insurance premiums?
(Required)
- Choose -
Yes
No
N/A
8. Lease agreements (other than the premises)?
(Required)
- Choose -
Yes
No
N/A
9. Equipment maintenance agreements?
(Required)
- Choose -
Yes
No
N/A
10. Advertising contracts (including Yellow Pages)?
(Required)
- Choose -
Yes
No
N/A
11. Other outstanding contracts and agreements?
(Required)
- Choose -
Yes
No
N/A
12. Pending or threatened litigation?
(Required)
- Choose -
Yes
No
N/A
13. Unresolved insurance claims?
(Required)
- Choose -
Yes
No
N/A
14. Product liability exposure?
(Required)
- Choose -
Yes
No
N/A
15. Customer warranty obligations?
(Required)
- Choose -
Yes
No
N/A
16. Pending tax or Worker's Compensation refunds?
(Required)
- Choose -
Yes
No
N/A
17. Anticipated supplier rebates?
(Required)
- Choose -
Yes
No
N/A
Are there any other facts or conditions not disclosed above that may adversely affect the operation of the business, a buyer's decision to purchase it, or the price they might pay for it?
IF YOU HAVE ANSWERED "YES" TO ANY OF THE ABOVE QUESTIONS, PLEASE GIVE A COMPLETE EXPLANATION ON THE ADDENDUM
CAPTCHA
