Buyers want your plant and equipment unencumbered!

Wednesday 29 Jan 2020

If you are thinking of selling your business and you currently have loans on your machinery, vehicles or any other plant and equipment used in your buisness you should be aware that any buyer will expect that these assets will come free of any debt as part of the business sale.  This is an important point and sellers should consider the payout of any loans as part of the costs of selling the business.  Other costs involved in a sale that should be considered are tax that may be payable on the sale, additional accounting fees, legal fees and in some instances a seller will be responsible for a landlords assignment of lease costs.  If you want to know more about the sale process, give our office a call! 

- Michelle Wright