HOI Peng Associates and Escrow Setup has been providing
real estate professionals and Individuals with excellent
fiduciary care on transfer of most types of businesses; with
or without Alcohol Beverage Control licenses (ABC) for
decades. Upon receipt of the Asset Purchase Agreement and
initial deposit, escrow documentation is prepared according
to the contract and closing date. Our escrows are handled in
full compliance with Bulk Sales Act, applicable Uniform
Commercial Codes and Business & Professions Codes. Our
officers provide expert assistance with completion of
various government agency requirements, publication and
recordation of the Notice of Bulk Sale, and Uniform
Commercial Code searches (UCC). In conjunction with the
business sale, our officers provide specialized services
which include; obtaining clearance from State Board of
Equalization, Employment Development Department, Franchise
Tax Board, County Tax Collector and ABC.
Important information to be submitted to escrow is as
follows:
Full names, addresses, and contact information for both
Buyer and Seller
Government Agency license numbers
Lien or payoff information of existing encumbrances
Seller Carryback terms or SBA Lender information, as
applicable
Thus as Settlement Agent we act on behalf of both parties to
protect the interest of each within the authority of the
Escrow Instructions. Once all parties have signed escrow
documents, the terms and conditions of the instructions have
been satisfied Escrow can be completed
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Istmo de Ferreira do Amaral,Edf.Tai Peng, No.101-105, 2-Andar,Macau
info@hoipengs.com
+852 9442 2849