Taking your instructions and reviewing the documents
We’ll catch up to discuss your proposal and review the draft contract for the sale of the business (which is usually prepared by the vendor’s representative). We’ll also go over the lease and make sure you know exactly what you’re getting into.
If any amendments are required ,we'll negotiate these and then make sure the contract is properly signed.
Steps to prepare for settlement
We’ll work together to make sure that any of the vendor’s suppliers or lenders do not have security over the plant and equipment, stock, and any other property you are buying.
We will work with the other parties to make sure the landlord consents to you taking on the lease at the business premises, and help you with any other transfers, licences or permissions we need to obtain (such as franchise agreements, liquor licence, food premises licence and transferring the business name). We’ll also make sure you understand what you need to do when it comes to existing employees of the business.
Every business has different requirements so there’s likely to be other due diligence steps we’ll need to help you tick off.
Settlement and beyond
You’ll conduct a stocktake if necessary and make sure that you’re happy with the condition of the business goods you’re buying. We’ll help calculate adjustments for rent, employee entitlements, and rates and outgoings, and make sure the right documents are provided to you at settlement for you to take over the business and start to occupy the premises. We’ll help you record any key dates when it comes to the lease in your calendar (and when the time comes we’d be happy to help you tick of these jobs too).