Buying a Commercial Property
If you are looking to buy a commercial property all you need to do to begin with is obtain the landlord’s agent’s details and instruct us to act on your behalf. We will write to the landlord’s agent to let them know. Our legal team will then conduct due diligence to make sure there are no unforeseen liabilities. Due diligence can be a lengthy process, but it is essential. This is because English law does not provide much protection over such purchases.
We can also instruct a building surveyor to carry out checks on the property. They offer advice about any issues within a property, such as damp, subsidence, or harmful materials. They will also check for any historical damage to a building. The survey will offer advice on whether to proceed with the purchase of the property based on factors such as: the general condition of the property, any major faults inaccessible parts of the building that may affect the value, and any other urgent problems that need attention. You will also receive results of tests for damp in the walls, damage to timbers – including woodworm or rot, the condition of any damp-proofing, insulation and drainage.
If everything checks out and you are happy to proceed with the purchase of the property we will obtain the sale contract and transfer documents from the seller’s solicitors.
Once the contract has been agreed and signed the commercial property will be yours.