NDA workflow
Confidential information is shared only after the NDA step, and the signed NDA is filed in the deal.
Deal coordination
Keep escrow and legal steps organised
Track the deposit, the escrow agreement and the legal documents in your deal checklist. SellAnyBiz does not hold funds. A neutral escrow provider you choose does.
- SellAnyBiz never holds funds
- Used once a deal is serious
- For buyers
- Deposit steps in the checklist
- Agreement reviewed by your lawyer
- Payment details confirmed by phone
- For sellers
- Confirm the deposit arrived
- Documents shared after the NDA
- Clear closing steps
SellAnyBiz tracks escrow and legal steps in your deal. It does not hold funds, act as an escrow agent, give legal advice or guarantee that a deal will complete.
Purpose
Why these steps need structure
Once a buyer and seller move past early interest, the deal carries sensitive information, legal documents and money. Confidentiality, the offer, the deposit and the closing papers all need to happen in the right order.
In SellAnyBiz a deal has an NDA step, a Data Room, an Offer and LOI step and, when a deposit or outside funding is involved, an Escrow and Funding step. The checklist tracks who must do what. The escrow itself, and legal advice on the documents, come from independent providers: a neutral escrow holder and your lawyer.
Escrow terms, legal documents and release conditions are agreed between the parties and reviewed by qualified professionals in the relevant jurisdiction.
What this covers
What the platform helps you track
Checklist and document support inside your deal. Funds and legal advice stay with independent providers.
Offer and LOI steps
A checklist for the offer and letter of intent, with AI-drafted documents that your lawyer should review.
Deposit and escrow checklist
When a deposit is involved: agree the terms, choose a neutral holder, sign the escrow agreement, confirm payment details by phone, then confirm the deposit arrived.
Funding readiness
When the buyer needs outside funding: choose the lender, get the pre-qualification letter and confirm the buyer's own cash share.
Legal document organisation
Agreements, approvals and deal files kept in one place, so lawyers can find what they need.
Closing checklist
The steps before completion, with an owner (buyer or seller) on each item.
Advisers in the deal
Lawyers and other advisers can be added to a buyer's deal to review the same files.
Data Room link
Confidential documents stay in the Data Room and are released to the buyer as the deal advances.
Who it helps
Who uses these steps
Everyone in a live deal works from the same list of what comes next.
Sellers
Keep documents confidential until the NDA step and see clearly what the buyer still has to do.
Buyers
Know the order of steps and what to confirm before money moves.
Brokers and advisers
Coordinate NDA, offer, deposit and closing tasks in one deal workflow.
What changes
- Confidential files stay gated
- A clear order of steps
- Deposit steps written down
- Legal documents in one place
- Less confusion at closing
Preparation checklist
What to have ready
For parties planning a deposit or a closing.
- A signed NDA, or the NDA step completed in the deal
- The agreed offer or letter of intent
- The deposit amount and who will hold it
- The escrow provider you have chosen
- Your lawyer, who reviews the escrow agreement and deal documents
- Verified bank details for each party, confirmed by phone
- Proof or a plan for how the buyer will fund the purchase
- Draft agreements and a list of closing documents
The deposit steps appear only when the deal needs them. Read how deals work, or ask the team a question.
Step by step
Where escrow and legal steps fall in a deal
The order a typical deal follows on SellAnyBiz.
NDA signed
The buyer signs the NDA and the seller releases documents for the deal.
Offer and LOI
The parties agree the main terms and say whether a deposit or outside funding is involved.
Escrow and funding, if needed
Agree the deposit terms, choose a neutral holder and sign the agreement with them. Money moves only through that provider.
Due diligence
The buyer reviews the business while each side's lawyer prepares the legal documents.
Closing
The closing checklist tracks the final documents and the transfer of funds through the parties' own providers.
Questions
Frequently Asked Questions
What is escrow in a business sale?
A neutral third party holds a deposit or payment until agreed conditions are met. The terms sit in an agreement between the parties and the escrow provider.
Does SellAnyBiz hold the money?
No. SellAnyBiz only tracks the escrow steps in your deal checklist. Funds are held by the independent escrow provider that you and the other side choose.
When is escrow used?
Usually after an offer or letter of intent, when a deposit is paid and before due diligence and closing. Not every deal needs it.
Who provides the legal advice?
Your own lawyer. SellAnyBiz can draft starting documents with AI, and a qualified lawyer should review them before anyone signs.
Is escrow the first step in buying a business?
No. It comes later, after the parties have talked, signed an NDA and agreed the main terms.
Get started
Planning a deposit or a closing? Start with the checklist
Talk to the team about how escrow and legal steps work in a SellAnyBiz deal. Your escrow provider and lawyer are chosen with the other party.