Legal support from heads of agreement to settlement.
Your vendor or buyer gets their own lawyer and a fixed fee. We prepare or review the contract and look after the sale through to settlement.
From heads of agreement to settlement
An example of how a business sale works when you refer a client to us.
Heads of agreement
You send us the signed heads of agreement. We call your client and confirm our fixed fee.
The contract
We prepare or review the contract of sale. For sales under the price threshold, we check the vendor’s section 52 statement is attached, because without it the buyer may be able to end the contract.
The lease
We start on the lease transfer. The buyer receives the tenant’s disclosure statement and, for an ongoing business, the business records. We then send the landlord a written request for consent.
Due diligence
The buyer’s accountant reviews the financial records. We search for any security interests over the business assets and confirm which employees will transfer.
Unconditional
The landlord’s consent, finance and any licence or franchisor approvals are received.
Settlement week
We finalise the stock-take, adjustments, security releases and lease assignment, and the buyer applies for any new food business registration.
How we work with you
01 Lease first
We start the landlord consent process early, because it is the step most likely to hold up settlement.
02 Issues raised early
We raise anything that could break the deal as early as we can, not at settlement.
03 You stay informed
With your client’s consent, we tell you when the contract is signed, when it goes unconditional and when it settles.
04 One lawyer, start to finish
One lawyer looks after the matter, with a support team behind them.
Approvals and timeframes
The landlord
For retail premises, if the consent request complies and the landlord gives no written answer within 28 days, the landlord is taken to have consented. Consent can only be refused on limited grounds.
The franchisor
If the franchisor does not refuse a transfer in writing within 42 days, consent is taken as given, and it cannot refuse unreasonably.
A liquor licence
Apply to transfer it at least 8 weeks ahead. No liquor can be supplied until the transfer is granted and the buyer has the right to occupy.
A food business
Food business registrations generally do not transfer. The buyer applies for a new one before settlement.
Identity checks
Since 1 July 2026, share sales, sales that include land, and setting up a company or trust are regulated under the anti-money laundering laws. We verify identity before we start.
Problems we catch early
A late landlord consent request
A request sent late, or without the buyer’s financial and experience details, which delays the landlord’s response.
An incomplete disclosure statement
If the outgoing tenant’s disclosure is incomplete or misleading, the tenant and its guarantors may not be released from the lease.
Going concern terms
The buyer must be registered for GST, it must be agreed in writing, and the vendor must keep trading until settlement.
Security interests
Finance over the business assets that is not released at settlement.
Employees
Unclear treatment of leave and prior service for staff who transfer.
Restraints
A restraint clause that does not match what was agreed.
Approvals
Liquor licence or franchisor approvals started too late.
Who does what
You negotiate the sale. The accountant reviews the financials. We prepare the legal documents and look after settlement.
| Task | Broker | Accountant | W Legal |
|---|---|---|---|
| Find the buyer and negotiate the price | Yes | Not involved | Not involved |
| Heads of agreement | Prepares | Not involved | Reviews on request |
| Financial due diligence | Not involved | Yes | Not involved |
| Section 52 statement | Not involved | With the vendor | Checks it is attached |
| Contract of sale | Not involved | Not involved | Yes |
| Lease assignment and consent | Supplies buyer details | Not involved | Yes |
| GST and tax structure | Not involved | Advises | Drafts the clauses |
| Employee entitlements | Not involved | Calculates | Contract terms |
| Security interest searches and releases | Not involved | Not involved | Yes |
| A company or trust for the buyer | Not involved | Advises | Sets it up |
| Settlement and adjustments | Stock-take | Not involved | Yes |
Common questions
Who is your client?
The vendor or the buyer, never both.
Does the landlord have to consent?
Usually, yes. For retail premises, the landlord can only refuse consent on limited grounds, and is taken to consent if it does not answer a complying request within 28 days.
Can you act on a franchise resale?
Yes. The franchisor has 42 days to respond to a transfer request, so we ask early.
Do the new anti-money laundering laws apply?
For share sales, sales that include land, and new companies or trusts, yes. Ask your client to have their identification ready.
Can the buyer buy through a company or trust?
Yes. We set up the structure before the contract is signed, so the right entity is named from the start.
What your clients get
Their own lawyer
One lawyer looks after the matter from start to finish, with a dedicated support team behind them.
Transparent fees
Your client knows what the work will cost before it starts. No surprises.
Experience
We have been helping Australians since 2011, so we have seen most problems before and know how to fix them.
How referrals work
1. Introduce your client
Call or email us with your client’s name and what they need, with their permission, or ask them to contact us.
2. We contact your client
We explain what is involved and confirm the scope and fee with your client directly.
3. You stay in the loop
With your client’s consent, we let you know when the key milestones are reached.
A few words from our clients
Read all 526 reviews on Google“The best in business! We received full support and transparency from start to finish. Mavis, Sarah and the whole team from W Legal thank you for your support! Super highly recommended”
“Very professional and helpful will definitely be using them again”
“Mavis was nothing short of brilliant. She is articulate, precise and knows exactly what she is talking about. We felt in very safe hands with her advice and knowledge. Everything went smoothly with the sale of our place - we would recommend her highly to anyone looking for a strong lawyer who knows her stuff.”
“Very happy with the prompt accurate information and financial transactions from W Legal. Will be using their services again for sure.”