When selling my cafe, is there a selling price above which a soicitor's contract is needed?

May

admin Conveyancing 2010-05-21

I’m selling my cafe for ,000 and want to do it without a solicitor’s contract. Is that possible?

solicitor

mr.mars-"H"-mallow @ 2010-05-21 14:25

It is possible. There are several documents available on the Internet that you can get an idea of what to include.

Is your business registered as Sole Proprietor? If it is under a LLC as far as I know you can sell the shares to the new owner and then just draw the contract up accordingly.

Problem might come up if the property is leased. New owner to take over the contract etc.

Have you maybe asked around how much a solicitor may want to charge you?
Another thing is if you have parties interested insist that they pay for the contract fees separately!

Best of luck mate and all the best!
bubiandme @ 2010-05-21 14:25

You should get one to protect you as the seller. The buyer could turn around in a months time & blame you for any debts incurred by the business. You need contracts to state what stock, debts etc come with the business.