Buying and selling a Business

Buying or selling a business will be one of the most important financial transactions you make. To be confident in your decision, do not sign any contract without first seeking our expert legal advice.

When Buying a Business

From the commencement of your business transfer right through to completion you will receive expert guidance to ensure your interests are protected.

A standard contract for the purchase of a Business has been developed by the Queensland Law Society and the Real Estate Institute of Queensland, however, each transaction is unique and the following should be considered prior to entry:

• the inclusion of fixtures and fittings;
• any plant, equipment or motor vehicles included in the transaction;
• the date of settlement and, if relevant, the timing of any new purchase;
• employer obligations and employee entitlements;
• training and tuition;
• GST, capital gains tax and general tax implications; and
• assignment of Lease for premises and any supplier agreements.
   

When Selling a Business

Once a buyer has signed and paid a deposit, you will be handed the standard contract to sign. Before signing, speak with us about:

• the inclusion of fixtures and fittings;
• any plant, equipment or motor vehicles included in the transaction;
• the date of settlement and, if relevant, the timing of any new purchase;
• employer obligations and employee entitlements;
• training and tuition;
• GST, capital gains tax and general tax implications; and
• assignment of Lease for premises and any supplier agreements.

Up to the date of settlement, we will:

• check that all documents you are required to sign are in order;
• ensure all outstanding government charges have been paid;
• arrange for the repayment and legal discharge of any mortgage on your business; and
• ensure you are paid in full for the business.
   

Seek advice before you sign

Be warned. No standard contract can deal with the individual circumstances of every transaction. For instance, you may need to add special clauses to the standard contract to cover your particular circumstances, for example, your purchase may depend on the sale of your existing property.

You should also consider the entity you are purchasing the business in.
Please fax or email a copy of the draft contract to us before signing and we will discuss your needs with you immediately.

Our service to you

We appreciate the importance of your personal affairs. Throughout our relationship you will receive expert guidance to assist you in your decisions. Our experienced team will be responsible for preparing any documents relevant to your transaction and will meet you personally to discuss your wishes.

Our Guarantee

We guarantee professionalism, personal service and knowledge. If you are not 100% satisfied with the quality of our service, we will do whatever is necessary to achieve your satisfaction.

Where to from here?

Contact us to find out how we can assist you.