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Do I Need an Attorney If I’m Buying a Business Through a Broker?

On Behalf of | May 30, 2014 | Firm News

Are you planning on using a broker to buy a business? If you do decide to use a broker, are you also going need to hire an attorney to provide you with legal representation? The answer is yes, in no uncertain terms. Having a lawyer on your side will help prevent you being taken advantage of by the broker. You cannot rely on the fact that your business broker will disclose or even have all of the pertinent information you need to make an informed decision. In most cases, the information they are able to disclose up-front with not be sufficient.

Making a decision and signing a Letter of Intent without adequate information will put you and any investment you have made at risk. You could get locked into an unfair price and could lose your hard-earned deposit, if you chose not to go through with buying the business at a later date. I, Patricia M. Davis, am a Houston business attorney with more than 30 years of business law experience. My firm and I handle all types of
business transactions including those involving the purchase of a business.

While a broker can be beneficial when seeking to buy a business, I do not advise you agree to any terms or sign a Letter of Intent without first obtain my counsel. I have made it my life’s work to protect my clients’ interests and I will do everything I can to see that yours are protected as well. To improve your chances of obtaining the outcome you seek, I recommend you retain my services so that I can review the information your broker has given you and advise you on how to proceed. For the convenience of my clients, I also offer virtual appointments and meetings for those who are unable to meet at my office.

Call my firm now, before you go forward with buying a business through a broker.