Selling a Business
There are many things which need to be addressed prior to you selling your business, below are just some of the things our team at QMT Law can advise you on to ensure your transaction proceeds without hassle to you.
- Before you list the business on the market, there must be advice to the landlord of your intention to sell the business. Taking advice from us and undertaking appropriate investigations will make sure that you do not do anything in default of your lease and to ensure that there can be the necessary assignment of the lease
- You need to ensure that all the certificates and permits and your trading figures for the last two years are in order.
- After both purchaser and yourself agree on the price and the terms of the contract, we will draft such a contract with the appropriate conditions contained within the contract. Remember you should discuss with us prior to agreement on the terms of the contract all matters that are necessary for protection of your interests in the sale.
- If there is an existing lease, we will contact the landlord obtaining their consent for assignment of such lease.
- If there are charges or mortgages over the business we will contact the bank or lending institution on your behalf to prepare the relevant release documents and the appropriate pay out figures.
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