If you’re thinking about selling your commercial premises, it is essential you get in touch with us as early as possible. We want to make sure that we have all of the information we need before an offer arrives. We can then to address the many technical questions and conditions that will arise when you receive an offer.
It’s our task to guide you through all the steps of you commercial sale. We’ll cover all the important aspects of your commercial sale and answer any questions you might have.
Before you sell
It helps us immensely if you get in touch with us before you sell. This enables us to discuss everything we’ll need from you. It’s most important to answer the buyers queries as soon as an offer is received and provide documentation to support the position.
When we receive an offer
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.
Title questions and transfer of title
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.
We aim to keep you fully informed at every stage of the commercial sale process. By doing this we hope you achieve a successful settlement on the date of entry agreed.
Do you need help with your Commercial Sale
We’ve helped many clients successfully sell their Commercial Property over the years