Closing Checklist for Buyer Contract

[Vince]

Since you guys and gals have already been through all this before:

Anything specific to the Self Serve Car Wash business that I need to include in a purchase contract. Specifically about environmental issues, vandalism or security issues, etc etc.

I know I need the bank to certify the deposits and have the Credit card verified through World Pay report. I'm guessing I'll want invoices copies for various expenses. What am I missing?

 

[Dan kamsickas]

Find out exactly what equipment is there. Contact the manufacturers and/or their reps. I have seen far too many washes bought by someone who didn't have everything closely examined and got burned....badly. There have been several manufacturers who have closed their doors over the last 15-18 years and there are proprietary parts that don't exist anymore.

 

[Rfreeman]

I would see if you can get the city out to do an inspection prior to closing. Here in DFW I needed inspections on the 3 washes before getting my C.O. and putting the water in my name. At one site in particular there were electrical issue out of code that came to the surface after we closed. I spent $1500 repairing said issues and had to shut the wash down for a day or two until they were fixed and up to code.

 

[Earl Weiss]

Find out when pits were last pumped. Not fun spending thousands to remove lst guys mud.

 

[MEP001]

Find out when pits were last pumped. Not fun spending thousands to remove lst guys mud.

Or at least go in there with a stick and see how full the pits are.

 

[Earl Weiss]

Or at least go in there with a stick and see how full the pits are.

Yep, even netter - don't trust what they say.