Commercial conveyancing is a legal process in which a commercial property is purchased and sold through a commercial property solicitor. Different steps are taken concerning buying or selling. There is Government advice on renting Commercial Property.

Are You Buying a Commercial Property?

If you are buying a commercial property, the commercial property solicitor will take the following measures:

  • The solicitor will research the title and perform any pre-contract searches.
  • The solicitor will raise the required enquiries that result from searches or answers to Commercial Property Standard Enquiries (CPSE).
  • If the client is financing a mortgage, the mortgage offer will be affirmed, and a transfer deed drafted, if required. VAT may need to be considered as well.
  • If the property is not a freehold property, lease terms and the involvement of managing agents and landlords will be included in the process.
  • If no issue exists concerning enquiries, the client will receive a report letter as well as specific pieces of paperwork to be signed. Documents may include a transfer deed, lease, contract, mortgage deed, or stamp duty form.
  • When the papers are signed and the deposit cleared, a solicitor can set up a time with the buyer and seller for completion of the transaction. During this part of the process, the purchase is deemed legally binding.
  • The solicitor provides the client with a financial statement to pay the balance monies required to settle the purchase.
  • A stamp duty is paid if needed.
  • If necessary, the acquisition is registered with the Land Registry.

Selling a Commercial Property

If a property is being sold, a legal firm such as Jennings Perks Solicitors performs the following activities:

  • The contract of sale is drawn up after the investigation of the title or lease if the property is a leasehold property.
  • CPSE enquiry forms are completed.
  • Details are provided, if requested, of fittings and fixtures.
  • The solicitor for the buyer drafts a transfer deed if required and raises enquiries.
  • Assuming that no issues exist, a date for completion and the exchange of contracts is arranged. At this point, the sale is considered legally valid.
  • The settlement or completion occurs when the seller receives the balance of the purchase monies from the purchaser.

A Smoother and More Streamlined Transaction

The above activities, as you can see, are somewhat involved and take some time. That is why you need a legal professional to handle any commercial conveyancing transactions. When you can work with a firm that manages these types of matters, the process, whether a buy or sale, will go more smoothly. By choosing a company that has substantial experience in commercial conveyancing, you can obtain the assistance that you need without difficulty.

Set up an Appointment Today

If you are an investor in commercial property in the UK, you need to make sure that you have a legal representative to assist you in managing your sales and purchases of real estate. Real estate transactions can become lengthy and involved. That is why you cannot overlook the importance of receiving this type of legal support. If you want to add to your investment portfolio, make sure that you coordinate your efforts with a legal firm that has a solid reputation in conveyancing. Contact a solicitor today and set up an appointment to discuss your investment interests and concerns.