So, you’ve decided to buy or sell a commercial property? There are now a number of issues that need to be considered. Here at Josiah Hincks, we are experienced in the sale and purchase of commercial properties and can ensure that you understand the process right from the preliminary negotiations to the end.
Want to buy a commercial property? Josiah Hincks can help with:
- Conducting Local Searches: these searches focus on what has happened with a property and what may happen with a property. Local searches are important in the purchase of property as they will show any plans that may affect the property in any way ensuring that there are no hidden surprises for the buyer upon completion.
- Drafting Heads of Terms. This is a primary document that sets out the terms on which the parties agree. Heads of Terms usually cover three main things, price, conditions on the proposed purchase and time limits on completion. They are not considered a legally binding document, but are seen as a draft of the main contract and useful to ensure both parties are of the same understanding.
- The payment of Stamp Duty Land Tax (SDLT). SDLT is charged on property transactions if the purchase price exceeds certain thresholds.
- Negotiating the terms of the contract on your behalf to ensure the best outcome for yourselves.
Want to sell a commercial property? Josiah Hincks can help by:
- Negotiating the terms of the contract on your behalf.
- Preparing exclusivity agreements. These agreements ensure that the buyer does not negotiate with another party for the length of the agreement which offers the potential buyer some protection in the short term.
- Preparing or reviewing the purchase agreement, the contract that outlines the purchase between the buyer and the seller.
If you have any questions regarding the sale or purchase of commercial property, please do not hesitate to contact our commercial property department at your preferred branch: Leicester on 0116 255 1811, Blaby on 0116 264 3430 or Coalville on 01530 835 041.