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Step 6 - Close The Sale

 

Closing Checklist For An Asset Sale

 

This closing checklist for an asset sale includes most of the more common items that may be required at closing . It is likely you will need some items not listed here. You accountant and lawyer of course will know what is needed. But this list should help you get started with your preparation.

 

__ Sales Contract or Sales Agreement

__ Cashier's Check

__ Promissory Note

__ Security Agreement (for seller financing)

__ UCC Financing Statement

__ Asset Acquisition Statement (IRS Form 8594)

__ Covenant Not to Compete (Non-Compete Clause)

__ Employment Contract

__ Consulting Contract

__ Insurance Certificates for the Policy Covering Secured Assets

__ Assignment of Contracts

__ Assignment of Intellectual Property

__ Escrow Agreement for Post-Closing Adjustments

__ Motor Vehicle Transfer Documents

__ License Transfer Documents

__ Real Estate Transfer Documents

__ Title Insurance

__ Mortgage or Deed of Trust

__ Complete Customer Lists

__ Complete Supplier Lists

__ Contracts With Customers & Suppliers

__ Codes &Combinations For security system, safe etc.)

__ Keys (All Keys to the premises, vehicles, file cabinets etc.)

 

Click Here For a Closing Checklist for an Entity Sale

 



The Six Steps To Selling Your Business
Step 1 - Preparation  Step 2 - Valuation   Step 3 - Finding Buyers
Step 4 - Structure The Sale  Step 5 - Due Diligence  Step 6 - Closing

 

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