Don’t ruin your life by buying a business without legal help. Here are four issues you may need legal assistance with before purchasing a business.
- Don’t assume that the stated income is accurate or doesn’t have some caveats. It’s a big problem when you count on revenue, and it doesn’t happen.
- You may be responsible for any undisclosed debt that the seller has. You will want to understand the liabilities like back income tax, sales tax, payroll taxes. Some taxes get transferred to the buyer.
- Make sure the person selling the business has the right to sell the business. Are they a majority holder? Did they have to buy out someone first?
- Landlord issues. Did the seller now become your landlord? Are they treating the business fairly? Did the landlord promise things that are not happening?
Make sure your family, savings, and future are protected. Don’t ruin your life by buying a business without proper legal help. We can help potential business owners navigate the purchase process and come out ready to tackle their business goals. Call Sierra Crest Law Group today.