# Acquisition playbook

This is educational. It is not legal, tax, or financial advice.

A buyer who is serious writes the search down before falling in love with a listing. Industry, states, price band, the cash they can put in, and whether a seller note is acceptable. NewHands stores that as a buyer profile and scores listings against it, with a reason for every point.

The usual path on this marketplace is teaser, NDA, confidential memorandum, indication of interest, letter of intent, diligence, financing, close. Binding steps — signing the NDA, sending an LOI — stay with the human even when an agent drafted them.

Diligence is where New England deals slip. Confirm the entity with the Secretary of State in that state (linked from the sources page). Ask whether a liquor license, a marina permit, or a professional license transfers, and do not assume it does. Ask counsel whether the state wants a bulk-sale or successor-liability notice before assets change hands. Separate real estate from the operating business in the price, especially when the asking multiple looks high because the building is in the number.

Financing for many of these companies is an SBA 7(a) loan plus a seller note plus the buyer's cash. The calculator on this site shows the arithmetic. The lender, not NewHands, decides whether the loan exists.