Falling at the final hurdle

Adam Bernstein outlines some of the dangers of selling or passing a practice on

When selling up, the first hurdle to cross is timing and a common mistake seen by Samantha Chaney, corporate partner at law firm VWV, is sellers not preparing early or sufficiently enough.

In her view, those looking to sell a business, in the next three years, should: ‘start tying up loose ends that may prevent or affect the sale. This includes making sure all paperwork is in good order. Once the sale is agreed, the buyer will be carrying out a due diligence exercise and will request various documents as evidence that the business is worth what they have offered to pay for it.’

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