When buying the assets of a business, some are subject to sales or use tax, while others are not. Items subject to retail sales tax.A Business Purchase Agreement is a contract that transfers a business entity from its owner to a new buyer. The buyer needs to know what they are purchasing, and the seller needs to know what they are selling. Buyer agrees to buy and Seller agrees to sell the commercial real estate identified in Section 1 as the Property and all improvements thereon. "Facilitate business acquisitions with our Letter of Intent template. (1) Prepare business for sale including updating financial documents and list of business assets and debts in order to get the business potentially valued.