All the paperwork after selling a business
Have been busy running around since Monday, running to and fro a few government agencies to get all the paperwork done. Haven’t have time to sit in front of the computer nor check in the various networks for assignments.
The buyer of the business had paid us a down payment on Monday as we signed the sell and purchase agreement. On Tuesday, we changed the company registration record to add the buyer as new owner. On the same day, we called the architect in so that we could start submitting the plan of the premises and start the name transferring process. On Wednesday, the buyer met the landlord, we did an assignment of the lease then went ahead to send it for stamping.
The name on the license needs to be transfered to the owner before she pays me the remaining purchase price. It usually takes more than a month to get approvals from all the licensing agencies if all the paperworks are in order. We hope the transaction can be closed and settle before the end of April.
