Buy Or Sell A Business

Are you buying or selling a business? Why spend hundreds of thousands or even millions of dollars on a business and not pay a little extra to ensure that you legally own your business? Alternatively, if you are to receive hundreds of thousands or millions of dollars, why not pay a little bit out of those proceeds to ensure that the sale goes smoothly and that you will not be sued in the future? Let our attorneys handle all the legal aspects of buying or selling your company. The information below details (1) our pricing and (2) the services we provide

(1) PRICING – Our price is very reasonable and is structured as follows:

Purchase Price Legal Fee*
$1 – $100,000 $750
$100,001 – $200,000 $1,000
$200,001 – $500,000 $1,500
$500,001 – $1,000,000 $2,500
$1,000,00+ $5000+

* The legal fee quoted is a basic fee for most business purchases and sales. However, if in our opinion, the transaction will require much more time than is customary in a typical transaction, a higher price will be quoted.

(2) SERVICES – Our attorneys provide the following services for the above mentioned fee:

FOR BUYERS

  • Reviewing & negotiating the Purchase & Sale Agreement.
  • Explaining the Purchase & Sale Agreement to the buyer.
  • Conducting due diligence to ensure that the Company is legally registered and will not be violating any leases or contracts upon the transfer of ownership.
  • Ordering a lien & judgment search to determine that there are no liens, judgments or tax liens against the company or the seller.
  • Corresponding with the seller’s attorney & other parties.
  • Preparing & reviewing all legal documents for the closing.
  • Representing the buyer at closing.

FOR SELLERS

  • Preparation & negotiation of the Purchase & Sale Agreement.
  • Explaning the Purchase & Sale Agreement to the seller.
  • Corresponding with the buyer’s attorney & other parties.
  • Preparing & reviewing all legal documents for the closing.
  • Escrowing of funds.
  • Representing the seller at closing.

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If you are the buyer, you face the following risks if you do not retain an attorney:

  • Business may not be legally registered.
  • Business is or may be in violation of state or federal laws, in breach of existing contracts and may be in breach of its existing leases if the transfer is not properly conducted.
  • Seller or the business may have liens or judgments that might be your responsibility upon the transfer of the business.
  • Seller might be past due on taxes and the obligation to pay might fall on you

If you are the seller, you face the following risks if you do not retain an attorney:

  • Documents that you sign may put an obligation on you to be responsible for the business in the future, even if you will no longer be running the business or deriving a profit from it.
  • If you have a lease, you probably made a personal guarantee. If the buyer stops paying rent in the future, you will still be personally liable.
  • An arrangement for the buyer to pay in installments may not go as planned. How will you be protected if the buyer stops paying?
  • The buyer’s attorney will want you to prepare certain legal documents for the transfer. Are you able to prepare them without an attorney?

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Brooklyn Office°

2620 E. 18th Street, Suite 2
Brooklyn, NY 11235
(718) 989-9629

Manhattan Office*

222 Broadway, 19th Floor
New York, NY 10001
(212) 365-0934

Nassau Office*

67 Cutter Mill Road
Great Neck, NY 11021
(516) 558-0045

Bronx Office*

2010 Williamsbridge Rd.
Bronx, NY 10461
(347) 923-3880

Queens Office*

133-07 Cross Bay Blvd
Ozone Park, NY 11417
(718) 554-5652

Westchester Office*

199 Main Street, 4th Floor
White Plains, NY 10601
(914) 274-2045

Staten Island Office*

837 Father Capodanno Blvd
Staten Island, NY 10305
(718) 554-5687

Rockland – Orange – Putnam*

Rockland - Orange - Putnam
Please use Westchester Office
(914) 274-2045

Suffolk Office*

445 Broad Hollow Rd., Suite 25
Melville, NY 11747
(631) 306-0057

North Jersey Office*

411 Hackensack Avenue, 2nd Floor
Hackensack, NJ 07601
(732) 474-6410

Office Disclaimer

° Principal Office
* By Appointment Only
(shared office space)

Central Jersey Office*

317 George Street, 3rd Floor
New Brunswick, NJ 08901
(973) 528-0285