Florida Business Broker Process

searcher profile

October 30, 2025

by a searcher from Rollins College in Orlando, FL, USA

I'm evaluating a deal represented by a Florida-based business broker, and the process feels a bit unorthodox compared to what I’m used to in the middle market. I wanted to get a quick sanity check from the SF community. The company is represented by a broker and has provided a CIM with high-level financials. We had a productive call with the seller, and I really like the business overall. However, the broker’s process skips the LOI entirely and goes straight to a purchase agreement (using the standard BBF APA template). Diligence would occur after the agreement is signed, with only a three-week DD period, and a deposit is required upfront. Additionally, there are apparently a lot of interested buying parties. This approach seems out of market to me. Has anyone encountered a similar process, and how did you handle it?
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commentor profile
Reply by a searcher
from Emory University in South Florida
I’ve seen the same. My (potentially incorrect) conclusion is that this is the difference between business brokers and real estate brokers who also list businesses. Florida is great in that we have the BBF MLS, but it also means anyone with a real estate license can list businesses, and the process you’re describing is akin to real estate transactions. My take is just to go ahead and submit the LOI; they’re legally required to present it to the seller, and it helps put a little pressure on them to adjust their process.
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Reply by a lender
from California State University, Sacramento in Seattle, WA, USA
Its a disservice to the entire process. I don’t know how legitimate deals get done this way? Trust your gut, Tom. Happy to have you attend our weekly office hours if you’re new to SBA. This is going to feel and BE way different for you then MM. 😀. ALL THINGS SBA. redacted
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