Sale of Business Agreement on Vendor terms
Use this agreement when the Vendor agrees to allow the buyer to pay part of the purchase price with the balance payable over a defined term.
The vendor retains effective possession and control of the Business and the Assets until such time as the whole of the purchase price is paid.
When buyers are having difficulty borrowing money from the banks, vendor finance is an option that facilitates the sale and allows the seller to achieve its price, even though a part will be paid after completion.
The document includes 2 templates:
- Sale of Business Agreement
- Secured Loan (including PPSR) Agreement
This agreement was drafted to comply with Personal Property Securities Act 2009 (Cth)