Congratulations&nbsp;{Insert Buyer Name} and&nbsp;{Insert Owner Name}!<br />
<br />
We are nearly at the finish line for your transaction.&nbsp; You are scheduled to close on {Insert Restaurant Closing Date}.&nbsp; Here is a breakdown of the process for closing.<br />
<br />
<strong>Closing Documents</strong>

<ul>
	<li>Approximately 7-10 days before closing, we will gather items for the settlement statement.&nbsp; This will consist of the rent prepaid for the month, any security deposit and an&nbsp;<strong><em>estimate for inventory&nbsp;</em></strong>plus any other items to be settled between the buyer and seller.&nbsp;</li>
	<li>Around 2 - 3 days before closing, you will receive a&nbsp;<strong><em>draft set of closing documents</em></strong>&nbsp;consisting of:
	<ul>
		<li>Seller&#39;s Settlement Statement&nbsp;</li>
		<li>Buyer&#39;s Settlement Statement&nbsp;</li>
		<li>Bill of Sale</li>
		<li>Broker&#39;s Indemnification</li>
	</ul>
	</li>
</ul>
You should carefully review these documents to make sure the calculations are correct, your name and corporate names are spelled correctly and surface any questions at that point.&nbsp; If there is a bank loan, the lender will coordinate with the closing attorney on charges that will show on the statement.&nbsp;<br />
<br />
<br />
<strong>Wiring Instructions</strong><br />
<br />
At this point, the buyer and seller will need to confirm wiring instructions&nbsp;<strong>directly with the closing attorney.</strong>&nbsp; The seller needs to provide wiring instructions to&nbsp; receive funds.&nbsp; The buyer will need to get the attorney&#39;s wiring instructions so he or she can send funds. If there is bank lending and working capital is funded, then the buyer may also need to provide his or her wiring instructions to receive these funds.&nbsp;<br />
<br />
<br />
<strong>Charges that a buyer can expect to see include:&nbsp;</strong><br />
<em>Remember.&nbsp; The day of closing, sales and expenses, belong to the buyer.&nbsp;&nbsp;&nbsp;</em>

<ul>
	<li>Cost of the Business</li>
	<li>Attorney Fees</li>
	<li>Security Deposit (if applicable)&nbsp;</li>
	<li>Inventory Amount&nbsp;</li>
	<li>Pro-rated amount for rent (from day of closing forward).&nbsp;</li>
	<li>Any SBA/bank&nbsp;loan fees.&nbsp;</li>
</ul>
<br />
<strong>Charges that a Seller can expect to see:</strong>

<ul>
	<li>Co​mmission due to We Sell Restaurants</li>
	<li>Any amount due to banks, lenders or lien holders</li>
</ul>
<br />
<strong>Closing Pre-Process</strong>

<ul>
	<li>The buyer needs to wire funds to the closing attorney in accordance with the settlement statement amount.</li>
	<li>The night before closing (or early morning of), the seller and buyer will meet to count inventory.&nbsp; They can provide the&nbsp;<strong><em>final inventory number</em></strong>&nbsp;to the broker and attorney to adjust the settlement statement or work out any minor differences between them.&nbsp;</li>
	<li>The buyer and seller need to determine the process to announce the sale to employees via a team meeting or otherwise.&nbsp;</li>
</ul>
<br />
<strong>Closing Day</strong>

<ul>
	<li>The agreed upon closing documents will be circulated via docusign.&nbsp; They will be the same version you have previously reviewed and signed off on.&nbsp;</li>
	<li>Upon signing, they will forward to the closing attorney and he will wire funds to those who are due.&nbsp;</li>
	<li><strong><em>If this is a bank or SBA loan closing</em></strong>, these documents go to the lender and the bank will have to approve and then fund the deal before funds are available to distribute.&nbsp; This generally all occurs in the same day.&nbsp; &nbsp;</li>
</ul>
If you have any questions or concerns, please do not hesitate and give me a call!<br />
<br />
Thank you for being great clients to work with.<br />
<br />
{Insert Selling Agent Name}<br />
{Insert Selling Agent Email}