Using a broker when buying a business is beneficial. The broker will explain and assist you throughout the process. They will prepare the Purchase Agreement, which is crucial for making an offer and ensuring your protection. The agreement, an internationally recognized document, outlines details about the business, your offer price, and special conditions.

Typically, a deposit of 10% to 20% of the purchase price is required at this stage, held in escrow until conditions are met. If conditions aren't met, the deposit is refunded in full. It's wise to have a lawyer review the agreement before signing, ensuring it's suitable for both parties. Negotiations may occur until both parties agree, with the broker facilitating communication and solutions.