Buying a business could easily be the biggest investment you ever make. Similarly, selling a business can be an important opportunity to turn your hard work and goodwill into cash. Whether you’re the vendor or the purchaser of a business, your business property transaction has the potential to either make you or cost you a significant amount of money.
Issues which you may need to consider as part of the purchase (or sale) process include:
- The business structure (ie. family trust, company, partnership) of the purchaser
- Lease and tenancy details
- Apportioning the outgoings of the business
- Breakdown of the purchase price into goodwill, stock, plant etc.
The best outcome for you as a Vendor may be significantly different from your desired outcome as a Purchaser. Like any legal transaction, it’s important to get expert property law advice from the beginning of the buying or selling process, and definitely before you sign any agreement.
Looking to purchase or sell a business?
The team at Property Law Service can assist you with starting, buying and selling your business – from small start-ups to large, established businesses. Please contact us for advice, get a quick online quote for conveyancing or call us on 0800 PPTYLAW (0800 778 952) for +64 6 370 5102.