Commercial

Sales & Purchase

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Sales & Purchase

Buy and sell on a good footing

The sale and purchase of commercial property is quite different from that of residential properties and can make the associated paperwork difficult to navigate.

As commercial properties are commonly purchased by companies or syndicates, they’re often acquired with the intention of leasing or renting out – and this is a lengthy process which can be complicated and time consuming.

Bringing in a lawyer at an early stage means you can hand off the complicated bits with the guarantee that all stages of the process will be comprehensively covered.

Regardless of whether you’re buying or selling, this can be a huge weight off.

Sale and purchase agreements can include the following:

  • Details about your business (what is being bought and sold)
  • The assets of the business that will need to be specifically included or excluded from the sale
  • A breakdown of the purchase price (differentiating between intangible and tangible stock)
  • Historical turnover of the business
  • The vendors undertaking to provide the purchase with handover assistance
  • A restraint on the vendor to trade in competition with the purchaser for a specified amount of time
  • Details of the lease agreement (should the premises of the business be under a lease)
  • Any conditions that are listed in the further terms of sale, including things such as finance, insurance, and due diligence

Once you have a signed agreement, we can help with any due diligence, such as:

  • Arranging for the lease to be transferred to the purchaser
  • Making sure that encumbrances are registered and are removed upon settlement
  • Drafting employee agreements
  • Arranging for the funds to be transferred between the parties on settlement

Buying or selling and need an expert advice to put your best foot forward?

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