Sale Readiness Legal Checklist for Advisers

Preparing your business for sale takes more than just finding a buyer; it requires being ready for the rigorous process of due diligence. One of the most common reasons transactions stall or collapse is incomplete or disorganised documentation. The Sale Readiness Legal Checklist, developed by Succession Plus, helps you identify and organise the key legal, financial, and compliance documents you’ll need to complete a smooth sale process.

For business owners preparing to exit and advisers guiding clients through succession, this checklist offers a clear framework to assess and strengthen legal and governance readiness.

Why legal readiness matters

Legal readiness is often underestimated in exit planning. Buyers, lawyers, and investors will expect a well-organised data room with clear evidence of ownership, compliance, and operational discipline. When documentation is incomplete or difficult to locate, confidence drops, and so does valuation.

Being legally sale-ready means your business can:

• Respond quickly and accurately to due diligence requests
• Demonstrate strong governance and compliance frameworks
• Minimise transaction delays and renegotiations
• Avoid costly surprises at the contract or settlement stage

Ultimately, legal readiness protects both the value of your business and the momentum of your sale process.

What's included in the checklist

The checklist covers all major areas typically reviewed during due diligence or legal appraisal. Each section includes the core documentation, policies, and registers that buyers and advisers will expect to see. 

Key categories include:

• Corporate, Structure & Governance 
• Financial Information 
• Tax Compliance 
• Contracts & Customers 
• Employment & Workplace
• Intellectual Property 
• IT, Privacy & Cybersecurity 
• Insurance & Risk 
• Regulatory & ESG Compliance 
• Transaction Documents 

Each section is designed to help you identify any gaps and prepare documents in advance, ensuring nothing is overlooked when it’s time to share your information with a buyer or investor.

How to use the checklist

Start by reviewing the checklist against your current records. Mark which documents are available, which need updating, and which are missing entirely. From there, you can begin assembling a secure virtual data room, organised in the same structure as the checklist.

For advisers, this tool can also serve as a structured due diligence framework when working with clients, helping you identify risks early, avoid deal fatigue, and ensure your clients’ businesses are truly sale-ready.

Why use the Succession Plus checklist

At Succession Plus, we’ve guided hundreds of business owners through exit planning, valuation, and sale processes. We know that organisation and preparation directly influence deal outcomes. This checklist distils years of practical experience into one clear, actionable framework you can apply immediately.

It reflects Australian regulatory standards, including ASIC, ATO, Fair Work, and Privacy Act compliance, making it an invaluable resource for both business owners and professional advisers.

Next steps

Download the Sale Readiness Legal Checklist to take the first step toward a smoother, more valuable business sale. Use it to assess where you stand today, and to create a clear plan for getting fully deal-ready.