I need help with buying a business.

My husband and I have an opportunity to buy a business from a guy who is retiring in about six months. We have run our own similar business on a smaller scale (and mostly from home) for eight years, and this would finally be a "real" business for us. I am just looking for some advice on purchasing and existing business. Like, what questions do I need to ask? I don't even know where to start. Someone advised me to check if he has any liens or tax liability. That seems smart, but how? And what else should I be investigating? I am confident we would be able to run the business, I just don't know how to go about buying it. Any advice is appreciated.


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