What should I do to lock a sale of business? -

I m new here. I m interesting on a business. But I m scary other competitors will buy it before I finish financing and checking its financial statements. Of course, I don t know what my decision is after checking its statements. What can I do to protect this against other competitors?Thanks

Offer to give the seller a letter of intent. This is a document saying that you will buy the business at a certain price, subject to getting financing and a more careful inspection of the financial records of the business. Include a sentence saying that the seller will not sell the business to someone else during that period of time, maybe give yourself one month to get financing and look at the books. Both you and the seller should sign and date it. It is not a legal contract but usually when a seller signs it they will honor it.