It is the seller having its own company reviewed before buyers arrive. Risks are identified and closed off in advance; the data room is set up ready and the process speeds up. The report can usually be put in front of several buyers at once, which is what makes a competitive sale process workable. Where more than one offer is expected, or the sale is time-sensitive, doing the review in advance is what protects against losing value and losing control of the process; the scope is set by the size of the transaction. For companies entering a serious sale, vendor due diligence is the most effective way to reach the negotiating table from a position of strength.
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