Business Settlements

Business 3

Purchasing or selling a business can be an exciting time as you embark on a new phase in life – but it can also be a complex process which requires a considerable amount of paperwork and due diligence.

Whether you are purchasing or selling a business privately or through a Business Agent, Metro Conveyancing can assist you with each step along the way, preparing the documentation you require for a successful transaction.

Metro Conveyancing has the knowledge and experience to guide you through the whole transaction and will investigate all aspects of the settlement which include (depending on the nature of the business):

  • Arranging for the transfer of the Business Name
  • Transferring or assigning any leases from which the business is trading
  • Ensuring stocktake is complete
  • Considering staff entitlements, stock at value, Restraint of Trade, plant and equipment, and franchises

When selling a small business, the Vendor is legally obliged to provide a prospective buyer with a Vendor's Statement – commonly referred to as a Form 2 - for the sale of a small business if the business is to be sold for a price of up to $300,000. Metro Conveyancing can prepare and review a Form 2 so that you can be confident that either as a Vendor or Purchaser, you are meeting all of your legal requirements with respect to the transaction.