We can assist you in purchasing or selling your Business. There are many steps and processes that need to be complied with when purchasing or selling your business, and we therefore recommend you obtain advice, prior to proceeding with your transaction.
There is no cooling-off rights when purchasing a business, so it’s important that you obtain full advice on the Contract prior to signing it. When running a business, every expense may impact the financial viability of the business. Accordingly, you need to ensure your accountant or financial advisor reviews the business records, to ensure the financial viability of the business is accurate. Further, you should relay your understanding of the transaction to your legal representative, to ensure they review the Contract and confirm its accuracy.
Although there is no cooling-off rights for business purchasers, a purchaser may be entitled to cancel the Contract if false, misleading or incomplete information is provided in the Contract. You should therefore consult with your legal representative prior to placing your business on the market, to ensure there is sufficient time to obtain all the relevant certificates and information for the Contract. This will avoid delays and limit any prospective purchasers from walking away from the transaction.
For further details and information or an obligation free quote, contact us on (03) 8390 4392 or [email protected].