Handing over the business in the deal: items and approval

The handover is the step in the deal where the business actually changes hands: domains, access, keys, lease, stock and customers. It starts once the seller has confirmed the payment, but you can assign responsibilities and deadlines before then. This article explains how the handover works in a Sitavo deal. To prepare the practical side, also read the seller guide’s practical handover checklist.

How the checklist works

1. In the deal you get a checklist that fits the type of business: webshop, SaaS, app, content site, domain or physical business. If you have a handover plan from the deal package or Sitavo’s agreements, its extra items are included.
2. Each item has an owner — seller, buyer or both — and can have a deadline. The buyer’s items are typically changing passwords and receiving access.
3. Mark an item as done when it is complete. A note or file as evidence is optional, but makes things easier for both of you later. If an item does not apply to your deal, mark it as not relevant.
4. When all items are done or not relevant, the seller sends the handover for approval. It is then locked, so nothing can be changed afterwards.
5. The buyer reviews the business and taps Confirm handover. The deal is then completed.

Typical items for digital businesses

• Domain: .dk domains are transferred through Punktum dk (DK Hostmaster) with a change of registrant; other domains are moved with a transfer code from the registrar.
• Hosting, code and repository — or migration to the buyer’s own account with a backup.
• Webshop platform (such as Shopify or WooCommerce) with themes and apps.
• Payment provider: the buyer opens their own account so payments go to the buyer. Subscription billing is migrated.
• Email and DNS: MX, SPF and DKIM records point correctly, so the website and email keep working.
• Social media, analytics and ad accounts, supplier agreements and documentation.
• Customer and newsletter data transferred lawfully under the GDPR.

Typical items for physical businesses

• Lease: the landlord has approved the transfer, or there is a new lease with the buyer.
• Employees: in an asset sale, employment generally transfers under the Danish Transfer of Undertakings Act, and staff must be informed. In a share sale, the employer stays the same.
• Stock counted on the takeover date and approved by both; fixtures and equipment checked against the asset list.
• Permits such as alcohol licences or food approval applied for or transferred into the buyer’s name.
• Insurance, customer and supplier agreements, keys and alarm codes.
• Change of ownership registered with the Danish Business Authority, and VAT and payroll in place. Ask your accountant.

If you are selling a restaurant, shop or trade business, also read selling physical businesses — the lease and staff often take the longest.

The buyer’s approval

When the buyer confirms the handover, they tick that the business has been reviewed and works as described, and that all access has been received and changed. Approval cannot be undone, so take the time you need within the deadline. If something is missing, write to the seller in the deal. Test the essentials before you approve: can you log in everywhere, do payments reach your account, do the website and email work, and do stock and equipment match the asset list? The buyer has 7 days and receives up to three reminders; if the buyer does not respond and has not opened a dispute, the handover is approved automatically 7 days after the last reminder.

When something has not been handed over

Write to the other party in the deal first — most problems are a forgotten login or a delayed approval from a third party. If you cannot resolve it, you can ask for more time (7, 14 or 30 days) or open a dispute from the deal. The deal is then paused, and Sitavo reviews the case through Help and cases.

After the handover: proof of purchase and the first 90 days

When the deal is completed, the free proof of purchase and the receipt are under the deal’s documents. Then comes a plan for the first 90 days covering, for example, the transition period and support, changing passwords and two-factor authentication, and knowledge transfer. You get a reminder the day before each deadline. With a Plus deal package you also get a time-stamped handover report with every approval.