Steven Abraham Escrow Services

GENERIC BULK SALE REQUIREMENTS NEEDED DURING THE ESCROW PROCESS

FROM SELLER:

Business name (DBA) and address

Seller name and address (if other than business address)

All other business names and addresses used by Seller in last 3 years

All variations of Seller name

Residence or corporate address for post closing

Address of assets if different

TIN (Taxpayer ID)

Depending on type of entity Seller is-required documentation varies

State Board of Equalization (SBOE) account number and copy of permit

Employment Development Department (EDD) account number

Franchise Tax Board (FTB) account number or TIN

Copy of personal property tax bill issued by County tax collector

Copy of liquor license, if applicable

General description of assets being sold (for Notice to Creditors)

Complete listing of Furniture, Fixtures and Equipment (FF&E)

Listing of secured creditors

Contract(s) Buyer to assume

Lessor information-name, address, phone, fax

FROM BUYER:

Name and address (if you plan on forming an entity later on before closing, a new Notice will have to be published and the time line will start over and you will incur additional costs)

Depending on type of entity Buyer is-documentation varies
TIN (taxpayer ID#)

Deposit to open (if nothing specific in contract, we require at least $1500)

Allocation of purchase price