Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.
Are there Solicitors involved and contracts to be signed please?
You should instruct a Solicitor.
He will draft a contract setting out your rights and responsibilities.
This will be a document signed by you and the seller
Then if there is a breach of the terms you can sue for breach of contract
But you need to check the accounts, see if they are audited etc
But a Solicitor can prepare a detailed document so you know where you stand
You can also write this off against profits/tax
Can I clarify anything for you about this today please?
You need to ask and the Solicitor will ask for evidence
Whatever the Solicitor needs to be satisfied about the purhcase
To make sure the business is legitimate
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What else do you need to know?
You asked for a low urgent, low detailed answer
What else do you want to know?
I see. The fee it shows is very low, so that is why our conversation is not as in depth as a high detailed request
But what else do you want to know?
Monthly management figures
Details of contract
Details of sales
Details of purchases
Details of assets
Can I clarify anything else?
Then you make a commercial decision whether you want to buy it
Can I clarify anything else for you today?
You can but you run the risk
You should make sure all checks are carried out before you hand over any money or sign