The commercial property team at ACSL Solicitors will guide you through the process of selling a commercial property. All of our commercial property services are on a fixed fee basis.
The conveyancing process can seem complicated at first glance. Here we will try to break it down into some basic stages:-
We speak with you to find out what your aims and objectives for the property are. Once we are all agreed they can be met by this property, we will ask the seller solicitors for a contract pack. When we receive it we will review all paperwork and submit our enquiries and Commercial Property Standard Enquires (CPSE) enquiries to the seller.
We also check the legal title of the property, and the terms and conditions of your lender too (if applicable). We will also advise you of whether you will have any VAT to pay, and what stamp duty will be due.
Reporting & Signing documents
Once we are satisfied with the information we have, we will produce a report on the property for you setting out our findings and recommendations. At this stage we will likely need you to sign the contract and transfer deed. Depending on the facts of your case, we might also need you to sign a mortgage deed or finance agreement, and a lease.
Exchange and Completion
Once we have all signed documents back from you we also request your deposit monies. Then we can exchange contracts so that you know exactly when you will legally take ownership of the property. On the agreed completion date we will transfer over the balance due to pay the purchase price in full, and your purchase will be completed.
Once we receive the completion paperwork from the seller solicitors we will register your purchase with the land registry and with HMRC. We will also settle the stamp duty account for the purchase.
When we receive the updated land registry documents confirming your ownership, we will send a copy to you.
If you're intending to buy a commercial property, or land, feel free to give us a call to see how we can help you. We perform our commercial property work on a fixed fee basis, meaning that you can budget easily for legal fees. As we near exchange and completion we will send you a detailed financial statement explaining exactly how much is needed and what it is needed for.
If you have any questions, please feel free to contact us on 0151 363 3977 or firstname.lastname@example.org