Buying a Business
We act for a great number of clients wishing to buy a business, so whether it is a management buy out, or a new venture, we can help you embark on the road to success.
In a normal purchase transaction we would expect to do the following:-
- We will check through the draft contracts and supporting documents to ensure that the Sellers have good title to the property assets and that there is nothing untoward which needs to be dealt with at that stage.
- We will report to you with copies of any documents which we think it would be useful to check through at a very early stage.
- We will make appropriate enquiries of the Seller and searches with the local and other authorities if you instruct us to do so.
- If appropriate, we will check that the Landlord has consented to the assignment of the lease.
- When all searches and enquiries have been answered satisfactorily and everybody is ready to proceed we will report in detail on the full contract papers.
- We will prepare for completing your matter on the agreed completion date including reporting to you with our accounts and drawing down funds if applicable.
- If appropriate, following completion we will submit the appropriate Stamp Duty Land Tax Return to HM Revenue and Customs and then submit and complete the application for registration of any ownership or lease of the property at the Land Registry.
How much will it cost me?
How much it will cost you will depend on the business.
Use our contact us page to request a detailed estimate. You will need to tell us a bit about the business (value, industry, employees, and assets). We aim to provide you with a detailed estimate within 1 working day of you emailing us.
Please bear in mind that buying a business, and starting out in business will require advice from an accountant. We therefore recommend you take early advice from an accountant at the same time as choosing your lawyer.
How long will it take?
Again, this depends on the circumstances, but we find that the majority of transactions complete within 6-8 weeks, sometimes a little longer, sometimes a little sooner. We will work closely with you to ensure that timescales fit to your needs.