What can seller take with them?

[lindhdg]

I know anything can be written into a contract but when an existing laundromat is sold, what can the buyer expect the seller to leave behind? Obviously all the machines and parts but can/should the seller empty the change machines, remove all tools not specifically related to the business. Should the inventory of soap be charged to the buyer. Just curious how far folks are going in removing items when selling their place and what a buyer can expect to be left behind.

Current Contract: To be included: All existing furniture and trade fixtures currently associated with xyz coin laundry.

-Thanks

[VicG]

I listed every item in the Laundromat that I was purchasing.

List all the carts, tables, fans, change machine, soap machines, shelves, washer , dryers, seats, chairs, and so on.

Just list everything , otherwise the seller can take it with him.

Vic

[KJD]

Current Contract: To be included: All existing furniture and trade fixtures currently associated with xyz coin laundry.

-Thanks


This paragraph is TOO vague.
Everything needs to be line listed.
At closing certain things like soap supplies, water-sewer bills, will be adjusted and paid for or credited to the proper party.
Up until the actual closing time and date the seller is entitled to every quarter in the mat.

[Ronald]

Why do you think seller should leave 1,000 or so in the changer for you???

[Amex]

I would take all my tools,parts and quarters.

[lindhdg]

Thanks - I'm actually going to be the seller not the buyer. The contract as signed reads as I said above (this is just a small part of the entire contract). I don't want to be greedy and take what I'm not entitled to but want to get my tools and other non-essentials out. I will amend the contract to ensure I get my tools and such. Just was wondering what was standard practice. Has anyone ever been suprised to find what the seller took or has a buyer ever complained about something that was no longer there that they assumed would be part of the purchase (whether through a vague contract or misunderstanding). Just wondering if anyone has any horror stories to tell.

[DuboisLaundry]

I have no idea about "standard practice"
a one-store seller going to retire has little or no use for parts or specialty tools;
a multi-store owner - depends if the other stores have the same equipment.

"best practice" : put it in writing!

[pete f]

I have bought and sold. so been on both sides. I have had closing where we count every soap box and soda can and even up, I have had closings were we just walked thru, and these small items where left for the beneifit of the buyer. I try to give the buyer all manuals, keys and any special things that store needs. OF course you empty all machines, vending, etc and coin changers on the way out after the closing.

[Ronald]

Bring me 105k cash and I will just walk out. You can keep the money in changer.