Final Agreement

Final Agreement

This is the final, binding written agreement. There are many ways to handle this, including hiring an attorney to draw up the agreement. Depending on the complexity of the sale, it may be most cost-effective to draw up the agreement yourself or, if we are involved, have us draw up the agreement. Whoever draws up the agreement should do so in plain English, not legalese, so all parties understand it: too often, lawyers draw up documents that only other lawyers understand.

Before Signing: 

Have an accountant estimate any tax ramifications. Ask the accountant to suggest alternate methods of structuring the sale to avoid tax exposure.

Have a lawyer review the final agreement for liability and explain your responsibilities under the terms of the agreement. If something is unclear, clarify it and rewrite the agreement so all clauses are clearly understood and unambiguous.

After Signing:

Request a bank-to-bank wire transfer as payment.

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