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In most business purchases, the buyer and seller will have been in contact with the long before there's an "official offer" to buy the business. So, in a way, the offer itself is a formalization of the talks that the buyer and the seller have had up to that point.

In this video in the Guide to Buying a Business video series we will discuss the two ways to make an offer: a letter of intent and a purchase contract.

We will also look at the situations when each of these types of offers is most useful and at how each of these is perceived by the seller.



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