Before you buy an existing business, find out if the business owes any Texas taxes. When selling your business, you'll need to decide between an asset sale or a stock sale.It's important to understand how asset sales work. In an asset purchase in Texas, the buyer acquires all or part of a business's assets. In an asset sale, Company A transfers certain property to Company B in exchange for consideration (i.e. cash). Buying or selling a business in Texas may be a demanding experience. You must prepare a sales agreement to sell your business officially. This document allows for the purchase of assets or stock of a corporation.