The offer forms the basis of your commercial sale contract and contains all the technical conditions of purchase. It will contain the usual conditions of price, entry and extras. The offer will also contain a number of other conditions relating to the use of the property and any permissions or licenses. It may also raise questions about any tenancy agreements or leases you already have in place.

We will go through the terms of the offer with you and then prepare and send a qualified acceptance to the buyer’s solicitor. It’s only when all conditions of the contract are agreed that the contract becomes binding. Up until then either party can walk away. Also, in a commercial sale, there are frequent occasions when settlement may be conditional on something happening –  and if it doesn’t happen then the deal may fail. We aim to guide you every step of the way.

We will exhibit the title and all permissions we hold to the buyer’s solicitor. Then we’ll review the deed that will transfer ownership of the property from you to the buyer. The buyer’s solicitor will raise a number of questions about the premises. These will include questions about the title and it’s use and will insist on seeing a number of documents. If we don’t have these, we will ask you for them. If you don’t have them, we may have to obtain copies from the relevant authorities. Once these questions have been answered, we’ll arrange to have you sign the deed transferring ownership. However, we’ll hold onto this until we’ve received payment of the price.

When all of the technical aspects of the transaction have been completed, we’ll move to settlement.  On the date of entry, we’ll receive the sale price. In exchange, we’ll send the buyer’s solicitor the titles along with the deed transferring ownership of the property. We’ll also authorise release of the keys. We’ll arrange to repay any outstanding loan, deduct the expenses of the sale and send the net proceeds to you.