Do’s & Don’ts

Buying a Business

Do’s

• Consult your solicitor befoure you sign the Contract
• Consult your Accountant before you sign the Contract
• Consider your experience
• Consider your expertise
• Determine your initial financial limit
• Determine your possible ongoing financial obligations
• Investigate your security of tenure
• Investigate your equipment and stuffing needs
• Most importantly, inform yourself by seeking assistance from professionals

Don’ts

• Accept contractual documents on their face value
• Accept verbal promises that are not confirmed in writing in the Contract
• Proceed believing we can “fix that later”
• Proceed without checking all elements of the Contract and the Business and your personal needs with your solicitor

Franchises

Do’s

• Consult your solicitor befoure signing any documents
• Consult your Accountaint before signing any documents
• Consider your experience
• Consider your expertise
• Determine your initial financial limit
• Determine your ongoing financial obligations
• Investigate your staffing and equipment needs
• Investigate your security of tenture under the Contract
• Challenge the assumption you have about the franchise
• Challenge the unfair terms and conditions of the Contract

Don’ts

• Assume that what the Contract says is non-negotiable
• Assume the franchise is doing you a favoure
• Procceed bolieve we can “fix that later”
• Proceed without checking with your solicitor all aspects of the franchise and your personal needs

Residential and Investment Property Purchases and Sales

Do’s

• Consult your solicitor before the purchase
• Consult your Accountant before the purchase
• Determine your needs and wants in respect of the purchase
• Determine your financial limits and capacities
• Investigate the structural soundness of the property
• Investigate the Council planning conditions for the property

Don’t’s

• Accept contractual documents on their face value
• Accept verbal promises that are not confirmed in the written contract
• Proceed believing we can “fix that later”
• Proceed without checking all elements of the Contract and the Business and your personal needs with your solicitor

Wills & Power of Attorney

Do’s

• Do’s Consider specific gifts of your property to relatives and friends
• Consider how you want the rest of your property distributed
• Chose an Executor whom you will trust to carry out your wishes
• Chose which powers you want your Executor to have in relation to you Estate
• Determine Guardians for your young children
• Determine any funeral or commemorative arrangements you may wish to make
• Plan ahead
• Plan for the comfort of those you leave behind

Don’t’s

• Leave it to the last minute
• Leave a mess