Sometimes it is as simple as a shop keeper transferring his lease and the benefit of his retail business at the same time. On other occasions there is a more complex business requiring for example full due diligence and in depth analysis of the assets and liabilities being transferred.
We would need to know how well the buyer knows and understands the business he/she is acquiring. Typically when acting for a buyer we would wish to raise enquiries about the business and have the seller make contractual promises about the replies given. The object is for the buyer to know exactly what he is purchasing (before he buys) so he can assess whether he wishes to proceed, and whether he wishes to do so at the price originally agreed.
We would ordinarily give an indication of our costs based on an hourly charging rate and the number of hours we expect the matter to take. In simple transactions it may be possible for us to agree a fixed fee.
We would like the name of the other party and their solicitor. Sellers should be clear about what liabilities they want the buyer to take over. Buyers should be clear about where the true benefit of what they are buying lies, for example is it a particular contract or a particular customer which the seller has which is what brings value to the transaction.
We have a dedicated Commercial Team able to raise enquiries and advise on the relevant aspects of the matter. Unlike other local firms we also have a dedicated Employment Team who can advise on obligations relating to the transfer of employees.
To discuss your requirements, please email commercial@grantsaw.co.uk today or contact our team on 020 8858 6971.
