Choosing a Business Purchase Solicitor
Hiring the right lawyer to help with your business purchase
is difficult. So we've put together a list of our top 3 tips that will help you hire the right Lawyer.
1) Start shopping early.
It can take days or even weeks to find and hire the right commercial solicitor. Don’t wait until you’ve hashed out a ‘non-binding’ heads of terms
because some parts of it will be binding. Plus, if you hand your solicitor a heads of terms
that fails to protect your interests, you’ll look like an amateur if you insist on changing the terms because your lawyer was late to the party.
2) Find an expert.
There are commercial solicitors that specialise in buying and selling businesses – take your time to ask them: “How many businesses have you helped your clients buy? How many were in the same or similar sectors as the one I’m looking at?” Be particularly vigilant if it’s an asset sale involving property. Drill down on their property expertise or how they’ll handle this component of the transaction if they themselves don’t have the expertise.
3) Get a fixed fee quote.
Any experienced solicitor who has completed enough business purchases can easily estimate a reasonable figure. They’ve seen it all. They know exactly what’s in and out of scope. And they’ll be able to clearly explain not only their own professional fees, but also any ‘disbursements’ such as government fees, taxes, search and filing fees that come with buying a business.
If you're still looking for a lawyer to help with your business purchase agreement, submit an enquiry
on Lexoo today. Simply tell us your requirements and you’ll get multiple, fixed-fee quotes within 24 hours from a selection of great lawyer, handpicked to suit your needs. The service is 100% free - give us a try.