Buying a business anywhere is usually a lot more complex than buying a house or piece of land.
If you have not done this before then please do not try to do it yourself.
Here is a representative list of things that may need to be addressed in a bus-op purchase:
1. Review and certification of accounts
2. Notice to vendors
3. If buying a registered company,getting a certificate of compliance from tax department showing that the company owes no taxes.
4. termination of employees and re-hire in order to clear the books of accrued benefits
5. if buying a company, then yes there is a closing cost - 5% of value transferred to be paid to GoB at the Companies Registry.
6. Hold-back of a portion of purchase-money funds with an agreed upon neutral third party - for payment of bills that may come in after closing.
7. transfer of utilities
8. if you are not buying a company be aware that you cannot transfer most operational licenses - you will need to get new ones if you will operate as an individual
9. bank accounts - do you have one - how to handle operations etc
10. Non-compete clause?
11. Name registration - is the business-name registered? If not you may wish to do so (advisable).
12. Inventory - how much stuff is on hand at time of contract and in what condition - how much delivered at closing, who determines if it's all there and is it pretty much the same condition at closing as at the time of the contract?
13. If you are buying a company then you need to search the registry to see if the company is up to date filing its returns and if the person signing the sale agreement is in fact legally entitled to do so. If you are not buying the company you will still need to do this just to be sure the sale is being made by an entity that is legally entitled to enter into a contract.
14. warranties that there are no known or contemplated legal actions against the company or its principals.
etc, etc, etc......
Bus-op sales are a specialty - get a pro to help you.