Settle ownership and control, then sign a purchase agreement with the price in escrow contingent on the outcome, then assemble the source-of-funds and financial evidence, then apply. Applying before the structure is fixed or the funds committed generally leads to refusal.
Commit the money in a way that is real yet recoverable on refusal
Sequence resolves the tension at the centre of E-2: the funds must be irrevocably committed, yet a buyer sensibly does not want to lose them if the application fails. Escrow answers both, with release to the seller on approval and return to Ismail on refusal. That structure should be put in place only after the ownership percentage and any control terms are final.
In parallel he gathers the trail of his capital and the seller's financial disclosures, and writes the plan for operating the yard. The consular application follows, and appointment availability varies enough that it should be checked before dates are promised to the seller. He should not begin running the business during visits before approval.
A physical inventory count close to closing keeps the largest valuation current.