Selling a Restaurant: Escrow
By this point in the sales process, you have negotiated with your buyer and reached an agreement about the condition of the premises and your price. It’s now time to close in on the final stage of your sale: Escrow.
In this tutorial, you will:
- Open escrow to protect you and your buyer during the sale
- Comply with Bulk Sale Laws
- Request Lease Assignment
- Schedule a final walk through, close escrow, and complete your sale
This is the endgame of selling a restaurant. If you’ve conducted the sale’s prior steps carefully, this final stage should be relatively quick and easy. By the end of it, your restaurant will have a new owner and you’ll have your proceeds.