Sales And Business Purchases
Sales And Purchase Of Business
Our team assists clients in borrowing against their property’s equity, releasing further funds, or refinancing. We handle all paperwork and lender requirements, ensuring a smooth process with minimal stress and clear communication.
Key Steps in Buying or Selling a Business
- Preparing for the Sale
- The seller must decide whether they are selling the entire business or just certain assets.
- A valuation is conducted to determine the business’s worth.
- The seller should ensure all financial records and contracts are in order.
- Finding a Buyer & Negotiating Terms
- The business may be sold privately, through a business broker, or advertised publicly.
- Both parties negotiate the price, terms, and conditions of the sale.
- Due Diligence
- The buyer investigates the business’s financial health, liabilities, contracts, employees, and assets.
- This ensures there are no hidden issues before completing the sale.
- Drafting the Sale Agreement
- A Business Purchase Agreement outlines the agreed price and payment terms.
- What is included in the sale (assets, stock, property, contracts, intellectual property).
- Responsibility for existing debts or liabilities.
- Any employee transfers under TUPE regulations (Transfer of Undertakings – Protection of Employment).
5. Transferring Ownership & Completion
- Legal documents are signed, and payment is made.
- The buyer registers changes with Companies House (if applicable).
The seller may provide a handover period to assist with the transition.
Why Do You Need Wildings Solicitors?
A solicitor ensures the transaction is legally sound, protects both parties and prevents future disputes. Their role includes:
- Legal Due Diligence – Checking for hidden liabilities, contracts, property leases, and compliance issues.
- Drafting & Reviewing Contracts – Ensuring the sale agreement is fair and protects your interests.
- Asset vs. Share Sale Advice – Advising on the best method to minimise tax liabilities.
- Employment Law Compliance – Ensuring employees are transferred correctly under TUPE regulations.
- Regulatory & Licensing Requirements – Checking if any licenses, permits, or regulatory approvals are needed.
- Dispute Resolution – Handling any legal disputes or claims after the sale.
The buying or selling of a business involves many legal, financial, and operational steps. A solicitor is essential to protect your interests, ensure compliance, and prevent costly mistakes. Whether you are a buyer or seller, legal advice can make the process smoother and safer
Book your initial consultation with our Property Solicitors in Birmingham. Freephone 0330 333 8797, request a callback or email info@wildings-solicitors.co.uk for specialist advice.
