A guide to Selling

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Achieving a successful business sale can be a complex and stressful transaction. It's important you choose the right agent.

For business vendors, Adams & Co offer a unique and unrivalled service with over 68 years experience in selling businesses. We are ideally placed to guide you every step of the way.

Business Sales Preparation

You will sell your business only once, and it is vital to prepare for the sale carefully. Achievement of the best price starts with pre-sale grooming, and you should begin by addressing the key elements of your operation.

The conveyance

This can involve a number of steps, and professionals, depending on the type of transaction. Adams & Co will ensure all parties are kept informed, and look to resolve potential problems promptly. A typical transfer is likely to include the following elements.

1. When legal representatives have been instructed, Adams & Co will issue a Memorandum of Intended Sale & Purchase to all parties directly involved in the transfer.

2. The Seller’s solicitor will verify title, prepare the draft contract, and request the Seller complete the relevant CPSE documentation, (Commercial Property Standard Enquiries), dependent on the type of transaction i.e. Leasehold or Freehold.

3. The completed CPSE forms, the contract plus all other documentation supporting the transfer will be sent to the Buyer’s solicitor. These may include, but not be limited to,

  • i) proof of title and/or a copy of the lease complete with any memorandums,
  • ii) a detailed plan of the site and property,
  • iii) an inventory of Fixtures & Fittings,
  • iv) a staff schedule. TUPE (Transfer of Undertakings Protection of Employment) Regulations may apply and need to be considered,
  • v) an EPC (Energy Performance Certificate). Adams & Co can advise whether an EPC is required, and, if necessary, commission a suitable provider on your behalf.

There are likely to be further enquiries raised by the Buyer’s solicitors- these may attract disbursements i.e. office copy registers and plans, planning permissions or building regulations.

4. If the business sale includes a leasehold interest then the landlord will require references for the prospective new tenant. Adams & Co will request these on behalf of the buyer for submission to the landlord for approval.

5. Once the Buyer’s solicitor is satisfied with answers to enquiries, and any search results, providing the terms of the contract have been agreed, the parties will exchange contracts. Simultaneously, solicitors will be concluding the transfer of the lease where applicable. It is usual, at exchange, that a deposit is paid over to the Seller.’s solicitor. Both parties are now committed to the transfer.

6. The Seller’s solicitor will approve the Transfer Deed from the Buyer’s solicitor, and give undertakings regarding any mortgages. Completion will then take place when the balance of money is received.

Key points to a successful sale

Prepare correctly - up to date information, presented in an orderly manner, will keep the sale moving smoothly.

Present it right - professional and organised.Price it right - too high and it won’t attract interest, too low and you are throwing away money.

Choose the right agent - Adams & Co have many years of experience and will provide advice and guidance every step of the way.