What steps are involved when selling a pub?
Commercial property solicitor and expert in pub sales, Nick Arthur, looks at the steps that are involved when
selling a pub.
1. Gather together key documents:
Gather all necessary documents related to the pub that is being sold, such as licenses, financial records, and contracts.
2. Valuation:
Determine the value of the pub, taking into account its assets, revenue, and potential for future income.
3. Engage a specialist solicitor:
You will need a solicitor who is experienced in pub sales to handle the legal aspects of the transaction. Our commercial property specialists will be happy to discuss your requirements with you and provide a fixed fee quote for the sale of your pub.
4. Listing the Pub:
Advertise the pub for sale through appropriate channels, such as commercial estate agents, online listings, or business brokers.
5. Negotiation of Terms:
Negotiate with potential buyers regarding the sale price, terms of the sale, and any conditions attached to the transaction.
6. Drafting Sale Agreement:
If you ask us to deal with your pub sale then we will prepare a legally binding contract detailing the terms and conditions of the sale, including payment terms, transfer of ownership, and any warranties or guarantees.
7. Due Diligence:
We will also handle the due diligence process on your behalf to keep the transaction moving forward.
8. Completion:
Once the pub sale is completed we will arrange to settle outstanding debts and liabilities, attend to transferring licences and then arrange for the net sale proceeds to be sent to you.
If you would like to talk through the sale of your pub with an experienced commercial property solicitor then give us a call. Nick Arthur and his colleague Emma Napper will be happy to have an informal chat and provide you with a fixed fee quotation so you can budget for your legal costs from the outset.
Call 0333 888 0404 or send an email to us at [email protected].
