Passports, the purchase agreement and escrow terms, the operating or shareholder agreement, the seller's last three years of financial statements and tax returns, the asset list, a path-of-funds file and a staffing plan. Bring drafts; do not wait for signed versions.
Which document decides it
Each condition has a document that carries it, and the review goes faster when they are labelled. Nationality: passports. Ownership: the share or membership ledger.
Control: the operating agreement's management clauses. Commitment: the escrow instructions and deposit receipt. Substantiality: the purchase price against the seller's balance sheet and the buyer's working-capital budget.
Non-marginality: payroll records and the forecast. Source of funds: the sale, savings or inheritance documents behind the money. Hypothetical example: a Lévis pharmacist buying a U.S.
compounding pharmacy brings a polished business plan but no escrow terms and a source-of-funds explanation that stops at her chequing account. The plan supports one condition; the missing items leave three unproven. Ask the seller's broker for the financial package early, ask your own bank for the transfer history, and ask the transaction lawyer for the escrow draft before the review, because a review of a plan alone cannot say whether the deal qualifies.