Every business has multiple legal relationships that allow the business to operate. The most important of these legal relationships are reflected in important agreements such as leases, franchise agreements, bank notes, insurance policies and so on.
Do your best to make sure that each of these agreements is current. Make sure the provisions are reasonable. Most important, for things like leases, make sure that you have adequate time remaining and that it is reasonably transferable. If your business is location dependent you may not have a business to sell without three to five years left on your lease.
In a related issue if you have any pending lawsuits against you, try to settle them. Lawsuits spell uncertainly and disruption and carry a perceived risk far greater than the actual risk. If you can settle them that risk and the reduction in your sales price is gone.
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