Ask HN: How to approach a potential buyout offer

Fellow Hackers

I've been running a startup for over a year now, and we've been growing a lot in the last few months. While there has been some interest in our business, we were approached by a group expressing interest in buying us out. The extent of the communication thus far is their initial email expressing interest.

While I do have a lot of startup experience, selling a startup is new to me. So what advice, tips, dos and donts would you guys recommend when we contact this group to start discussing a potential buyout?