STEVEN ABRAHAM - Licensed Business Broker with First Team Commercial Real Estate
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