Property Conveyancing Services Blog

Property is being purchased and sold on a daily basis. Unfortunately many people do not understand the legal terminology used when a Contract is being drawn up on their behalf. In this article we are going to explain in plain English the legal terminology of what a Conditional Agreement is.
Conditional
When you enter into an Agreement [...]

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The last blog on this matter:
If there are licences to operate, or possibly a government consent involved the Agreement should provide provision for the licence to be current and transferred upon settlement so you as the Purchaser can continue to trade.
You should also ensure the Agreement provides provision for the Vendor to remain for a [...]

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Following on from my previous blog:
* You should ensure you have access to the business before settlement to be introduced to the clients.
* The Sales and Purchase Agreement should state that risk of the assets passes from the Seller to you on settlement and possession date.
* What type of insurance will you require - Public [...]

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Following on from our previous blog:
Employees - The Seller must provide you with a full list of staff and employment contracts. Furthermore assurance must be made by your Conveyancing Practitioner that all PAYE tax and any other payments due to the IRD are paid at settlement inclusive of payment of all due holiday pay to [...]

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Before entering into any purchase of a Business you must complete your due diligence. Where to start:
1. What price should be paid? Goodwill, plant, fixtures and fittings and stock will generally make up the price. The price will be broken down into these caterogories in the Agreement with value given to each one.
2. Turnover - [...]

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