Free download
Free due diligence checklist for buying or selling a small business
A free due diligence checklist for buying a small business, or selling one, as an Excel file: 76 documents to request and 18 questions for the seller, in 6 phases. It is the standard checklist we use in ClosingVault. Use it to run diligence on a business you are buying, or to get ready to sell yours.
Free, with no email needed. It opens in Excel, Google Sheets or any spreadsheet program.
What is in it
Each row is one document a buyer will usually ask for, grouped by phase and folder, so a seller can see what to gather and a buyer can see what to ask for. A separate sheet holds the 18 questions the seller answers in writing, and a short guide to the columns comes first.
Financial
28 documents
Financial statements and projections, tax returns, working-capital schedules, and bank, credit card, loan and credit line statements.
Legal
20 documents
Formation and governance records, customer, supplier and real estate contracts, licenses and permits, litigation and compliance, and intellectual property.
Commercial & Operations
5 documents
Sales and marketing records, and operations and supply chain procedures.
HR
12 documents
The organization and employee census, policies and handbooks, employment agreements, and benefits and payroll.
Risk
7 documents
Insurance policies, and health, safety and environment records.
Technology
4 documents
IT infrastructure and software, and security and data privacy.
Or let ClosingVault work from it
The file uploads straight into ClosingVault to build a data room’s checklist. Then the AI files each document you drop in against it and shows what is still missing.
Want the same documents as folders? The data room index template lays them out as 29 folders in 6 phases, free as a CSV or Excel file.
Selling and not sure you need a data room yet? Do I need a data room to sell my business?
Questions about the checklist
What is in this due diligence checklist?
76 documents to request and 18 questions for the seller to answer in writing, in 6 phases: Financial (28 documents), Legal (20), Commercial & Operations (5), HR (12), Risk (7) and Technology (4).
What format is the checklist?
An Excel workbook (.xlsx) with three sheets: a short guide to the columns, the checklist and the seller questions. It opens in Excel, Google Sheets or any spreadsheet program.
How much does the checklist cost?
Nothing. The checklist is free to download, with no email needed.
Can I use it to buy a small business?
Yes. A buyer can send it to the seller as the due diligence request list, and a seller can use the same list to gather documents before buyers ask for them.
Can I upload the checklist into ClosingVault?
Yes. The file uploads straight into ClosingVault to build a data room’s checklist. The AI then files each document you drop in against it and shows what is still missing.
Is this the checklist ClosingVault uses?
It is the standard checklist every ClosingVault plan includes. The separate ClosingVault checklist is on Plus and Professional.