Due Diligence When Selling a Business

You should expect any buyer to raise enquiries as part of a due diligence exercise.

They will want to investigate the finances, trading contracts, employees, properties, assets, liabilities and know precisely what they are buying.

In light of the fact you will be required to give warranties under the sale and purchase agreement, it is advisable to keep any information disclosed in a separate folder which you can let us have to monitor what the buyer has seen and assist us with any disclosures against the warranties.

The exercise is not the same, but there will be overlap so anything which saves you time and money is sensible.

Every transaction will vary and it largely depends upon the extent and nature of the business and what is agreed between the parties to determine the precise structure of the deal.
 

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