Found on: 2022-07-10 02:52:50
Source: Meridian Business Sales – The sale of my business
We had a cold call from meridian asking if they could sell our business & as it happened we were ready to sell as I am retiring after being here for thirty six years [a small village garage] so when their rep called to our office with all his paperwork & brought out the agreement/contract for us to sign, we did at this stage tell the rep we only wanted to advertise for one year only & he replied “this place will sell with in six months” & said no more so when I saw 52 weeks on his contract I did not press him further & I signed under the 52 weeks… & also paid up front £ 828. After the twelve months had passed & had only 3 people come to look I emailed meridian to say thanks for their efforts & expected to walk away but was flabbergasted to learn that if I wanted to terminate early I would have to pay them £1, 995 plus vat so really I was £3, 000 down the pan.
Now my complaint is that he misled about the duration of the contract & by not explaining to me about the dark side of contract in the event of them not selling my business but it doesn’t end there if you end your contract & sell it to someone else they will come out of the wood work & still demand a payment. It does not take too much working out why they have such a contract. Now even the property ombudsman booklet which the rep dropped on to my desk said meridian was registered with was no good to me because meridian were only residential registered I wonder why? When their business is 80% selling businesses [another deception by the rep]
So that stopped me from getting help from an independent body, the ombudsman suggested I contact meridians internal complaints but I fail to see that a complaints officer employed by meridian can have an unbiased approach as we know where his loyalties will lie
But I think I have found a [censored] in their armour there is no vat to be charged on early termination. I have it from the horse’s mouth from the local vat offices & if they try to make me pay vat I am going to make it my business to write to oxford/bolton & manchester vat offices just in case my letter starts to gather dust in one of their in trays & report them.. The vat people can go back seven years you know.
So to conclude if there is anyone out there reading this beware of meridians
Sole selling rights watertight contract… Chris-euro
Found At: Meridian Business Sales – The sale of my business