Chris Tinning & Company is pleased to act as agents for the purchase
of your hotel. Whilst we are employed and payed by the vendor we
recognise that this would not be possible without you the purchaser.
Now that the sale has been negotiated the following will assist in
letting you know what happens, when & why:
Proposed Transfer Date:Actual Transfer
Once the price has been negotiated we write to your solicitor advising
them that they will soon receive a contract from the vendor's solicitor
for the sale of the hotel. Should there have been any unique conditions
attached to the offer then we will include these in our advice to both
To complete the contract your solicitor will need to obtain information
from you such as the purchasing entity, ABN and name of the proposed
hotel licensee. It is also wise to discuss any finance arrangements
required for the purchase of the hotel with your solicitor.
If you are obtaining finance to purchase the hotel our experience has
shown that often a valuation is required by the lender. We are happy to
provide a list of competent hotel valuers who can assist you; prior to
instructing your preferred valuer their acceptance by the lender should
be confirmed. We request that any appointments for valuers to inspect the
property be made through ourselves.
Most transactions involve discussions between your solicitor and the
vendor's solicitor that mean minor changes are made to the initial
Once the contract is agreed between the solicitors and any finance
approved (in writing) you will be asked to sign.
When signed contacts are exchanged the hotel is sold.
EXCHANGE DATE: SETTLEMENT TERM:
*** Ensure the hotel is insured in the purchasing entity's name from
One Month from Settlement:
Open Bank accounts (these details are needed for the license
application DMS and a TAB application if necessary). Make application
for EFTPOS if necessary.
Ensure that the proposed Licensee has completed the Affidavits to
transfer the Liquor License and provided these to your solicitor.
(Copies available from the OLGR web site http://www.olgr.nsw.gov.au ).
Contact ATM provider if necessary.
Two Weeks from Settlement:
Complete and lodge the supplier credit applications:
Wagga Laundry & Linen (6921 2730)
Ferndale (food) 69216202
Superior Food 6931 9319
Beer gas ?
Contact TAB and request transfer of agency forms. (Elenor 92181483)
One Week from Settlement:
Organise with the current licensee to accompany them whilst they clean
the beer lines. (tuition)
Organise with the current licensee to accompany them for lock up
Organise with current licensee tuition on cash register (changing
pricing, manuals etc), ATM filling (manuals etc), TV operation
(teletext pages etc)
Request current pricing structure (liquor, accommodation, food etc)
Request current staff roster
The Morning of Transfer:
An agent will attend your hotel and complete the following:
vCount Stock (this is then sent off for extension/pricing)
vCalculate gaming duty liability
vOversee purchase of cash floats.
vOversee connection of Utilities (note the only time we contact the
telephone provider is on the morning of settlement so that the telephone
remains connected. Earlier contact inevitably leads to disconnection)
·Receive all hotel keys
·Staff employment declarations (from post office)
·Staff Employment Terms & Conditions (generic attached)
OLGR Audit available on line at http://www.dgr.nsw.gov.au/pdfs/sa_checklist_hotel.pdf