Getting to the transfer.
WHAT COMPLETION INVOLVES
Signing the agreement Paying the consideration Transferring ownership Transferring assets, contracts and licences Handing over control
WHAT TO PREPARE BEFORE THE DAY
Funding available All consents obtained Bank arrangements Employment matters addressed Insurance in place from completion
WHY INSURANCE FROM COMPLETION
Risk transfers, and a gap is a serious exposure.
WHAT CONSENTS MAY BE REQUIRED
Landlord consent to lease transfer Counterparty consent on contracts Regulatory approval Lender consent
WHY THEY DELAY COMPLETIONS
They are outside your control and they take time.
WHAT TO ESTABLISH EARLY
Which consents are required, and start them.
WHAT TO DO ABOUT STOCK AND DEBTORS
Count and agree them at completion.
WHY AT COMPLETION
Values change, and agreeing afterwards produces disputes.
WHAT TO RECORD
The position at the moment of transfer: stock, debtors, creditors, cash, meter readings.
WHAT TO OBTAIN AT COMPLETION
All records and documents Keys and access System credentials and accounts Customer and supplier lists Employee records Licences and certificates
WHY SYSTEM ACCESS SPECIFICALLY
Businesses are handed over with accounts still controlled by the seller.
WHAT TO VERIFY
That every account, domain and system is transferred to you.
WHAT TO CHANGE IMMEDIATELY
Credentials, signatories and authorisations.
WHY
The seller's access should end when ownership does.
