This factsheet gives an outline of the work we carry out at each stage of the process. It is meant as a general guide only.
1. At the first meeting we take initial instructions and ask for details of the following items (where applicable):
- Apportionment as to Fixtures and Fittings – Goodwill – Property
Schedule of Fixtures and Fittings
Details of items on hire/hire purchase/free loan
List of employees and details of employment for those staying on
Details of Selling Agents
Planning Consents for existing use/property and proposed alterations
Existing contracts passing
Details of any warranties passing eg for the property – equipment
Details of VAT registration and T.O.G (Transfer of a Going Concern)
Client details – sole trader – partnership – limited company
Whereabouts of Deeds and details of current secured loans to be repaid
Licence details where appropriate
2. We prepare the Sale contract and submit sale package of ancillary information
3. We deal with replies to business enquiries, CPSE (Commercial Property Standard Enquiries), additional property enquiries, additional business enquiries as required.
4. Signing of Contract in final form, exchange of contracts and agreement on completion date.
5. Transfer documents and supplementary assignments of goodwill are approved, obtaining signatures to the same
6. We request redemption figures for accounts to be paid; Agents Accounts and preparation of completion statement
7. Completion is effected, loans repaid, we report to client, paying Agents and concluding sale
