A Brief Guide To Buying With Tenerife Business Sales

Should you  decide to proceed further  on a business and have agreed a purchase price with the seller, we will prepare a simple ’option’ contract, that when signed and received by our office together with the deposit, will secure the business to you.

The contract will show the name and address of the business, the buyer’s and seller’s details, payment terms and a completion date. The deposit to be paid is normally 10% and will be held in a remote ’client’ account and held there until satisfactory completion.

The contract is designed as protection for you. Should there be any legal issues that result in the failure of a satisfactory completion then your deposit will be returned to you. It also ensures that the business is withdrawn from the market for the period of the option contract.

 We can introduce you to a legal representative who will prepare the new lease / rental contract or escritura, check over the paperwork that is in place, ensure that there is no debts outstanding with the service providers etc. and if so we will withhold monies from the completion then transfer  the remainder to the seller.

Your legal fees will cover the whole negotiation of the business transfer  ensuring  a smooth  and hassle free changeover from the existing owner .

Normally the charge for the above service is around 1150€ which you pay directly to your legal representative