We can help you with buying or selling your commercial premises, we have good links with local and national surveyors and agents and want to make the process as straightforward as possible for you.
We work hard to ensure that you do not have any unwelcome surprises about the property. We do this by taking clear instructions from you and your lender, checking and dealing with your lender’s requirements if you are borrowing money to fund your purchase, making relevant official property searches including with the Land Registry and Local Authority, raising enquiries with the seller, checking the owner has good title to the property, checking and negotiating the sale contract drafted by the seller, reporting back to you and to your lender, attending to exchange of contracts and signature to the mortgage deed, effecting necessary pre completion searches, drafting the transfer deed relating to the property, completing your purchase, preparing the Stamp Duty Land Tax Return and attending to registration of property at the Land Registry.
We will advise you on the best solution if the property concerned has issues regarding third party rights over the land you are buying, or covenants that restrict what you can do at the premises. Also you may need a sale contract with the seller which becomes binding only on your obtaining planning permission. This is known as a conditional contract and we will advise you if you need one.
Buyers can be asked by sellers to agree to contract terms requiring the buyer to pay the seller an agreed proportion of the uplift in the value of the property arising from a future grant of planning permission to develop the property in future eg for housing. This is known as ‘overage’ and we are experienced in advising both buyers and sellers on overage agreements.
For Sellers of commercial property our work involves preparing the legal information and contract to sell the property, answering the buyer’s Solicitor’s legal enquiries and advising you on the most straightforward way to sell. We negotiate the sale contract and transfer deed for you and where appropriate we will reserve rights to benefit any neighbouring land retained by you and deal with any covenants and restrictions you require the buyer to accept as part of the deal – such as overage. We will also act for your lender, if you have one, applying the sale proceeds to pay off and discharge your mortgage.