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Buying and Selling

The sale or purchase of any asset presents opportunities and it is fraught with challenges. Sellers, buyers, and their advisors share many concerns: price, terms, structure, tax effects, confidentiality, non-competition, liabilities (actual, potential and imagined), indemnification, trust and verification. These are but a few. Experienced counsel helps to create the conditions for success.

Buying a Business
Knowing what you are getting into is the most important thing to understand when buying a business. Is the asking price within a reasonable range for the type of business? What are the tax consequences of buying the business? Should you buy the business or the assets of the business? Does the business have significant debt? Are there creditor accounts left unsettled? What were the business' profits and losses over the years? What is the reputation of the business and/or the owners?

Simpson Law Offices can simplify the purchase process by offering advice when you are considering a business purchase, assisting you in completing your review of the business and facilitating the transaction.

Selling a Business
“Selling your business” can mean many different things. What are you selling? Are you selling a customer list? Are you selling some of the business assets? Are you selling all of the business assets? Are you selling the operating company? Will you be restricted in the types of business or employment you can accept? Are you prepared to stay on as an employee/adviser after the sale is complete? Are you willing to accept payment terms? We can help you determine what you are selling and help you negotiate sale terms that work for you.

Buying Real Property
Buying a home or commercial real estate is one of the most important financial commitments you will make. It is crucial to know exactly what you are buying, in terms of boundaries, title, and the condition of the premises. Some of the things that will affect you when you are buying or selling a home are the laws where you live, the economy, your financial situation, the prevailing real estate market, current mortgage rates, and tax considerations.

Practices and laws affecting real estate change over time and over geographic regions, with laws and customs varying from city to city and province to province. You will need to work with a variety of people, including real estate agents, lenders, home inspectors, surveyors, appraisers, and insurance agents.

Simpson Law Offices can help simplify the process and ensure that you make the right decisions.

Selling Real Property
Selling your home or commercial real estate requires more than determining a price and putting up a sign. Are there restrictions on the property which will limit your ability to sell it? Could a sale be delayed due to conditions or environmental issues that will have to be disclosed? Will you be subject to prepayment penalties on your mortgage? Are there steps you can take now to facilitate the timely closing of the sale? Are you willing to assist the purchaser in obtaining financing through an assignment of the existing mortgage or by carrying all or a part of the sale price?

At Simpson Law Offices, we can ask the right questions so that you are not left without an answer.

Financing
Whether you are buying or selling an asset, determining the right financing tool can be more important than the purchase price. As a buyer, can you get a discount for paying cash? If your cashflow is tight, will the vendor finance all or a part of the purchase? Would leasing the asset be advantageous? Do you need help arranging or completing bank financing?

If you are selling an asset, can you earn additional dollars by carrying part of the sale price? Are there tax or business advantages to having the purchase price paid in installments or having all or a part of the payment deferred?

We can help you determine the best available financing method for your business.