New Jersey Real Estate Lawyer Christine Matus Explains the Important Questions to Ask a Seller Before Buying a Business

New Jersey real estate lawyer Christine Matus (https://matuslaw.com/buying-business-6-important-questions-ask-seller-buy/) releases a new article explaining the important questions a person should ask a seller before buying a business. The lawyer mentions that buying a business is a life-changing decision. This decision can take up a lot of time and resources. This is why it is very important to make sure that the person is taking the right steps before purchasing a business.

“Sometimes an owner’s rationale for the sale of a business is as simple as the owner wants to retire. However, when owners sell, it may be an indication that the business is headed for financial or legal troubles. Have a frank discussion with the owner about why they are selling the business and any potential problems that may be affecting their decision,” the New Jersey real estate lawyer says.

The lawyer says that one question a buyer should ask is how the business handles sales taxes and payroll taxes. Since small businesses usually have owners who do not fully understand the tax obligations they have, it is important for a buyer to make sure that issues surrounding taxes do not occur after they buy the business.

Attorney Christine Matus adds that another question a buyer must ask is the future of the outstanding contracts. When a business switches owners, the contracts that have been in place may become void. This is why it is important to make sure that the buyer knows what is going to happen to the existing contracts after the business is bought.

In the article, the lawyer explains, “If you have questions or concerns after you purchase the business, contacting the seller will be the quickest and easiest way to get these issues answered. Do not let the seller run out after the deal. Being able to contact the seller will also help you deal with potential liability accountability issues as well. From a practical standpoint, it will be nice to be able to communicate with the seller for tips, tricks, and suggestions on how to run the business that he or she has been managing for years.”

Lastly, attorney Christine Matus emphasizes the importance of having a skilled real estate lawyer when it comes to dealing with real estate transactions. Having an experienced lawyer may be able to help the client ensure that they are getting a favorable deal.

About the Matus Law Group

The Matus Law Group has a team of estate planning attorneys who are committed to helping families and individuals in real estate transactions in New Jersey and New York. Through a team approach, they work hard to help their clients with their estate planning needs. Call The Matus Law Group today at (732) 785-4453.