Two businessmen shaking hands

Buying or selling a home can be an emotional rollercoaster as well as a difficult time. There are a lot of things to consider and to get right, which is why you need legal assistance.

When it comes to exchanging a business – whether you’re buying in or moving on – the same principles apply. When you need expert guidance about the buying or selling of a business property in Adelaide, you can turn to Conveyancing Centre. The legal side of a property transfer still applies in business, and our team can simplify the process. Here’s how we do it.

 

What’s in a Name?

A business name usually represents a business’s reputation and its brand. Particularly when a business has built a strong brand, new owners will want to maintain the name. 

We can assist you with the transfer of the business name, including all the documents needed to make this official. We can also advise you on things like phone numbers and websites. As such immediate methods of contact, they often represent the brand too.

 

Understanding GST

Did you know that if you’re selling a business, you can potentially make the transaction GST-free? With so many costs involved in both buying and selling, eliminating even one of these is mutually beneficial. It gives both parties a certain peace-of-mind and can help to seal the deal, whatever side of the transaction you are on. 

There are a range of things you need to do and conditions you need to meet to achieve a GST-free sale, and a conveyancer can help you with this. It all starts with contract of sale and framing the sale as a ‘going concern’. If you can do this – and meet the other specifications – you’re one step closer to a more attractive transfer.

 

Licencing

As someone who is buying a business, you are considering your next steps before the process in finalised. After all, it pays to be a few steps ahead in business.

 

If you need licences – such as liquor licences or certain council permits – we can advise you on these matters. We can even assist you with early access licences, which help you to get into your premises to complete work, set up furniture and complete other tasks before the process is finalised.

 

Other Steps We Can Take

Of course, there is a range of things that a commercial conveyancer can do for you, and they all come down to convenience and peace of mind. Here are a few other ways we make buying or selling a property easier.

 

  • We advise you in relation to insurance – either your responsibilities as a seller or your requirements as a new business owner
  • We calculate rates and taxes – for whichever party we represent, we ensure that your costs are upfront and minimised.
  • We conduct extensive searches – examining a property for encumbrances, easements, agreements and more. For vendors these are important facts to know and communicate and for buyers this information could shape your final business decision
  • We inform you about cooling off periods – just like with buying or selling residential property, it’s helpful to know when either party can back out with minimal consequences and how these situations are handled after cooling off periods. 

 

At the need of the day, you can’t go wrong with a professional consultation when making commercial property decisions. Legal advice is critically important to the process and it also helps to make your transaction stress-free. 

For advice and services from a conveyancer in Adelaide, contact Conveyancing Centre today.

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