What is due diligence when you are selling your business?

I am looking to sell a property of mine on Flippa and all potential buyers mention they would need to do due diligence.

What things does someone acquiring your company check? Is there a list of commonly checked items? Would they need to verify revenue by looking at my bank account?

Check out Martin Zwilling's Startup Professional blog. He has a few posts that deal with due diligence.

For selling a website on Flippa, the top things a prospective buyer would want to verify is traffic and revenue. That will likely involve adding them to your google analytics as a read-only user and showing them statements of revenue generated.

Here are some questions from one of Martin's post which apply to more traditional acquisitions:

• What is your burn rate and runway today?

• How much "skin" is already in the game?

• What’s the total history of this company?

• How well do the founders get along with each other, and with the team?

• What’s in this deal for me?

• What traction can be measured today?

• Who do you have as outside board members?

• Who is a real customer that I can talk to?

• How solid is the intellectual property?