Purchasing and selling a business

MTYF conveyancing for purchase of a new business

If you are buying a business, make sure you are not buying any problems at the same time.

Before agreement on the final price, ask your accountant to check the accounting records of the business including the financial statements, to ensure the business is fundamentally sound and a going concern.

You should and also check with council to ensure that the way you intend to use the premises for your business is a permitted use, and whether or not you may require council approval for such use. You should also check to see whether there are any licensing laws and regulations that you must comply with in order to run your business.

Once these things are checked, you can hand the complete transaction over to MTYF for the conveying of the new business to you with minimum risk.

MTYF business conveyancing experts will:

After receipt of the contract from the seller and before execution, MTYF will closely examine the terms of sale and advise you if any of these could have a negative impact on you or the future of the business before you sign (while there is time to negotiate and make changes);

MTYF will also undertake all necessary searches to ensure that you are protected and that all assets owned by the business you are buying are unencumbered.

After the terms of the contract have been agreed upon by both parties, MTYF submit the contract to the sellers so that exchange of contracts can take place, deliver any necessary forms or documents you might need to provide, and attend to settlement on your behalf.

MTYF conveyancing for sale of an existing business

Once you have found the buyer and negotiated the selling price, it is advisable to have MTYF specialists draw up a contract of sale on your behalf.

This will enable your MTYF conveyancer to raise and deal with any issues that may impact on you after the sale, and cover them in the contract – including issues such as current leases on premises, future restrictions on trade, fixtures and stock included with the sale, amongst other issues which may negatively affect you.

MTYF will then submit the contract to the purchasers for their execution and ensure that the buyer correctly submits transfer forms and other essential documents prior to exchange and settlement.

Finally, MTYF will attend settlement on your behalf and deposit the correct amount into your nominated bank account upon settlement.