Selling my business

[Clarita12345]

Hi there
What should I be asking for and paying attention to when selling my business.
The interested party have asked all sorts of questions and documents to protect their investment but I don't seem to know what to check on them before I even agree to sell it to them.i need to .. guaranty that they have the funds to purchase. Thank you x

[TranmereRover]

are they expecting you to remain in place? if so - all the usual issues around duration / responsibility / salary
if not - what restrictions are they imposing on you re: working on something similar?
beyond that, it rather depends on how much you care about just getting the cash and running / ensuring the business continues as it is

[antimatter]

I am not specialist but I would find solicitor to draw contract and with that I would have hoped to get some advice as well.

[Lonecatwithkitten]

You need to understand where valuation figures come from particularly if you don't take a salary and also if no rent is charged.
You need a solicitor to ensure you are discharged of any legal responsibility and tax responsibility.
An accountant at least to make sure you use your entrepreneurs allowance on the capital gain and possibly for valuation purposes.

[TranmereRover]

be careful how early you get the solicitors and accountants in - you could land yourself with huge bills and no sale if you go too early - presumably you've worked out the valuation & what you want for it anyway?

[Clarita12345]

Thank you all for your responses.
No transaction will take place without a solicitor but I wouldn't want to invest in one before I have done some credit check on their financial situation...my question is How can I do this?
Please guide me. Thank you