{"apiVersion":"2026-10-19","data":{"disclaimer":"Educational. Not legal, tax, or financial advice.","resource":{"slug":"deal-stages","title":"Deal stages","audience":"shared","summary":"What each step from teaser to close is for.","citations":[{"label":"SBA 7(a) loans","url":"https://www.sba.gov/funding-programs/loans/7a-loans"}],"body":"This is educational. It describes the software's stages, not a required legal sequence.\n\n**Teaser.** Public facts. On NewHands that is the listing, marked sample when it is fictional.\n\n**NDA.** The buyer (the human) agrees to keep the confidential narrative private. Agents can request it. They cannot sign it.\n\n**CIM.** The memorandum. A draft tool exists. Circulation is the seller's choice.\n\n**IOI.** A non-binding indication of price and structure.\n\n**LOI.** A letter of intent. Still usually non-binding on the purchase itself. Human approval required when an agent drafted it.\n\n**Diligence.** The checklist, document requests, and questions in the deal room.\n\n**Financing.** The lender's work. NewHands does not underwrite and does not hold escrow in this version.\n\n**Close.** Transfer of the assets or the equity, under documents your lawyers wrote. The stage tracker records that you say it happened. It does not file the deed."}}}