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How long usually for the handover date?

May 27, 2017 posted by Benng

9

Dear Friends,

After signed the sale and purchase agreement, and the deposit has done, how long usually for the seller to handover the restaurant to the buyer? Should it be after the lease and restaurant licence has been renew? or can the buyer request as earlier as possible? How to fairly set the handover date for buyer and seller?
many thanks!

Regards

Benng

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Reply from Jerry L

Added on May 28, 2017 15:00

It would be pursuant to the closing date set forth in your purchase agreement, which would entail the due diligence aspects of the purchase....which would include the lease renewal and any possible registrations for licenses.

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Reply from Benng

Added on Jun 04, 2017 22:50

Hi Jerry thanks for your explain! May I ask would that be easy if set the closing date on the date of licenses transfer confirmation?

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Reply from Jerry L

Added on Jun 08, 2017 08:48

Yes, if the closing date is synchronized with the effective transfer of all the licences, this would be the most effective way to ensure a smooth transition. Best of luck Benng.

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Reply from Benng

Added on Jun 09, 2017 12:09

Thanks a lotd Jerry L!