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How to Sell a Business: Due Diligence
Due Diligence Length
Deciding on the proper length of time for due diligence
Due diligence can be any period of time that you and the buyer agree to. The typical due diligence period for small businesses is typically 30 days.
The length of due diligence should be based on the following:
- The availability of information – The quicker you can respond to the buyer’s document requests, the shorter the due diligence period should be.
- The speed at which the buyer reviews the information – The more organized and clearer the information you provide to the buyer, the shorter the due diligence period should be.
- Communication between you and the buyer – The more available you make yourself to the buyer, the shorter the due diligence period should be.
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