Paid deposit on Shop/off licence - what are the legalities

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elainem

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Hi! I paid a deposit on a shop premisies - former small village shop/off licence and petrol pumps on Friday.

It will take a couple of months to go through due to being multiple family involved in the selling.

What do I need to look out for in completing the purchase and setting up shop?

The shop has not been in operation for a year, but I believe the off-licence licence is intact - what other things do I need to consider in the purchase/set up?
 
talk to your solicitor and accountant. They will assist you. It is important that you ask all the relevant questions and hopefully, you will have paid the deposit subject to a litany of conditions!
 
Paid deposit

Hi! Ravima, yes there probably will be a whole load of conditions - I just hope my solicitor and accoutnant will think of all the relelvant ones.

It's going to be a slow process, and I probably won't be opening until August time. I'm concerned that the refrigerators - which are about 7 years old - will still meet HSE requirements. I don't know where to look up these regulations - or whether to have a HSE Inspector into look at them but that might create a whole new set of issues. I'm also wondering how to accurately value the remaining stock from the off-licence - who values it, and how do I ensure it is accurate. Just as well I have taken a long time-frame.
 
Elaine, I can't believe you have already put down a deposit and are now looking for advice re stock valuation, HSE guidelines and setting up the shop. What do you know about this business? What due diligence process are you following? These should be basics for someone with experience. This really seems like a bit of a leap or a bit of a wind up. If this is not a wind up, my advice is get your deposit back if you can, or don't throw any more good money after bad.
 
Spear said:
Elaine, I can't believe you have already put down a deposit and are now looking for advice re stock valuation, HSE guidelines and setting up the shop. What do you know about this business? What due diligence process are you following? These should be basics for someone with experience. This really seems like a bit of a leap or a bit of a wind up. If this is not a wind up, my advice is get your deposit back if you can, or don't throw any more good money after bad.
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+1
Hard to believe the OP is for real on this one
 
mandelbrot said:
And there was me thinking she has an incredibly colourful and tumultuous life...! :D
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Could somebody tell the OP that the Celtic Tiger died a few years ago. If the business hasn't been operating for over a year, the vendors should be paying her / him a deposit. And if they are going to pay full price for unused stock then they are nutz. Get your deposit back and pay a visit to their nearest psychiatrist.
 
Hi Elaine i thought you were going for a promotion in your job. Who is going to run the shop.
 
Maybe Elaine is right and only certain posts refer to her. I have being reading through her posts and they range from plumbing to private eyes to investing 600,00 grand to asking about social welfare .
Every life situation is covered. No one person could have all that drama and ups and downs . But as i say every situation one could have in life she has covered . So if i have any problems i am sure Elaine will have it covered in one of her posts .
 
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