Purchase Agreement: A legally binding document detailing every aspect of the sale. A Minnesota Buy-Sell Agreement is common for "closely held" corporations and other business entities; for example, when there will be a handful of owners.The business buyer must search for undisclosed tax liens before completing a purchase agreement. In this video, we will go over everything you need to know about Minnesota real estate purchase agreements. Business Bill of Sale: This document outlines the sale details, including the purchase price, assets included, and any warranties or guarantees. There are generally five steps involved in the process of buying or selling a Minnesota business.