Virginia transaction attorney shares how to write an effective and legally binding business purchase agreement. Several areas have an additional regional or local tax as outlined below.Sell agreement could be a vital contract for your business. Our legal team can help with the drafting and implementation of this important document. Use a Business Bill of Sale to set out the terms for the sale of a business and transfer the ownership and all assets to the buyer. Register your business here." Once you have a general agreement with the buyer, the buyer usually drafts and signs a non-binding letter of intent. Whether you are buying or selling a business, it is important to have an experienced business attorney involved as early as possible in the process.