Commercial Property Conveyancing

The time taken to complete a Conveyancing transaction depends on several factors. One of the main factors is how long the chain of other people who are involved in the move is. The longer the chain, the more difficult it is to co-ordinate and the more opportunity there is for a problem to arise in one of the links. As a general guide, a straightforward transaction with no major problems should complete in 6 to 8 weeks. However, many transactions are completed more quickly than this when circumstances allow.

It is not essential to get legal advice when buying or leasing a commercial property, but it is highly recommended, given the high financial value and long periods of commitment that are involved with commercial property transactions. When buying or leasing the right commercial property, you need to be sure you’ve run all the necessary checks and surveys and investigated title to the property as well as checking the physical condition of the property and its surrounding land.

If you decide to negotiate the price of a commercial property, it is important to take a holistic approach when valuing the property. This will require taking consideration of all the results from property searches such as the physical inspections, the results of your survey, the commercial property seller’s enquiries, and other searches conducted, such as a highway search and desktop environmental search. Any issues or concerns raised from these searches can be used to bring down the price because they usually reduce the value of the property. Having a solicitor who is well experienced in commercial property transactions, and capable of considering all the relevant factors is extremely helpful and may help you (in conjunction with your surveyor) negotiate a better price than you’d otherwise negotiate.