- Checking that your Contract is in order and carry out negotiations, including:
– GST issues
– Title particulars
– Business name registration
– List of inventories included in the sale
– Amount of goodwill and stock in trade
– Restraint time and restraint distance
– Employee issues
– Special conditions requirements.
- Conducting pre-exchange as well as post-exchange searches, including:
– Requesting requisitions on the business title
– Checking whether rent and outgoings have been paid
– Searching on causes writs and orders, bankruptcy and traders bills of sale
– Asking you to check with the Local Council regarding the permissible use of the business premises, whether there are outstanding health and business notices, as well as the requirements for trade waste disposal.
- Determining as to whether there is an existing Lease on the property. We will go over the pros and cons, as well as the steps to take in preparing a new lease or assigning an existing lease that requires the landlord’s approval. We will also advise you of the particular terms and conditions in the Lease agreement.
- In the case where there exists a mortgage over the leased premises, the mortgagee’s consent needs to be acquired in writing. We will ensure that the consent not only covers the initial term of the lease but also all further option terms under the lease.
- Where required, we can also advise you on mortgage and guarantee documents.
- Organising stamp duty on the Contract as well as the Lease.
- Preparing the documents for the Vendor’s signature for the transfer of business name.
- Preparing a Deed for the Vendor’s restraint of trade and transfer of goodwill.
- Organising the change of Business Name (if required).
- Registration of Lease (if required).
- Arranging settlement with you, your lender, and the Vendor’s solicitor.