Hi there. The cost involved in drafting a contract of sale of business and a commercial lease agreement will depend on many things.

For a contract of sale of business, attention needs to be paid to what exactly is being included in the sale. Key elements include the business name, domain name, plant and equipment, customer contracts or other agreements, client information, and any intellectual property. The valuation of the business and how the purchase price will be paid is also an important aspect of the sale. Similarly, the seller should consider how employees are to be dealt with and who will pay any tax consequences of the transaction.

In a commercial lease agreement, you will need to consider key terms regarding the rights and obligations of the tenant and landlord, the permitted use of the premises, the term of the lease and whether there will be an option to renew, and the rent to be paid. Disputes can arise around who will pay for maintenance and repairs and the rights of the tenant in the event of a major redevelopment of the premises, so it is important to consider these issues at the outset.

Each of the above factors plus others will need to be considered by you, negotiated with the purchaser/tenant, and included in written legal documentation. The costs involved in this process will depend on your previous experience with commercial sales and leases and the complexity of your business. Costs may be higher if the purchaser/tenant engages their own lawyers to review the documentation, resulting in negotiation of the specific contract or lease terms.