Buying or selling commercial property affects land, property or buildings that are intended for business use.
The commercial conveyancing process although similar to residential conveyancing in many ways is a specialist process that should only be managed by experts as no two commercial sales or purchases are ever the same and situations can change quickly and involve third parties such as tenants and in some cases local authorities.
When buying a commercial property it is important to know how you intend to use the land or building as there could be restrictions that prevent you from using it in the way you intended. Our expert commercial conveyancers will discuss your plans and carry out the relevant searches to make sure that there are no restrictions in place and that the property is suitable for you. We will also check any leases or tenancies that are attached to the property and, if needed, help you negotiate with any businesses or tenants already at the property. This may include the requirement to provide services and utilities, we will make sure you understand your duties as a commercial landlord before you purchase the property. buying a commercial property is not a quick process as there are lots of things to consider, we will work with you, and any tenants, to ensure the whole process runs a smoothly as possible with as little disruption as possible.
There are several areas in the purchase process that must be carried out. These include presale examination of contracts, writing any amendments to the pre-sale contract and the exchange of contracts, post-sale we will oversee all the changes to legal documentation and title deeds, the financial settlement and the assignment of leases.
Equally, if you are looking at selling a commercial property, we will help you reach a realistic valuation including any fixtures and fittings or stock and prepare all the necessary documentation for the buyer's commercial conveyancer to approve. We will advise you regarding who you need to inform (HMRC, local Authority etc.) about your sale and if applicable we will help you write to any tenants and agree terms with them to either vacate the property or to introduce the new owners.
Our team will prepare all documentation for the buyer's solicitors and once the sale is completed will make settlement of any charges on the property and the transfer of any remaining funds to you.