Buying Commercial Property
Solicitors in Helston offering legal services for buying commercial property.
In a normal purchase transaction we would expect to do the following:-
- We will check the contract and supporting documents to ensure that the Sellers have good title to the property and that there is nothing untoward which needs to be dealt with.
- We will report to you with copies of any documents which we think it would be useful for you to have at a very early stage.
- We will make appropriate searches with the local and other authorities.
- When all searches and enquiries have been answered satisfactorily and everybody is ready to proceed we will report to you in detail on the property.
- When you are ready to proceed, we will exchange contracts, at which stage you are irrevocably committed to the purchase.
- We will prepare the draft transfer (to transfer the property into your name).
- We will prepare for completing your purchase on the agreed completion date including reporting to you with our accounts and drawing down mortgage funds, if applicable.
- We will complete the your purchase and following completion we will submit the appropriate Stamp Duty Land Tax Return to HM Revenue and Customs and then submit and complete the application for registration of your ownership of the property at the Land Registry.
How much will it cost me?
How much it will cost you will depend on the property and on your circumstances. There are other costs you have to pay when buying a property such as Stamp Duty Land Tax, and Land Registry Fees.
Email or call us for a detailed estimate. You will need to tell us a bit about the property (value, size, use etc.) and also whether you are purchasing with a mortgage or not. We aim to provide you with a detailed estimate within 1 working day of you emailing us.
Please bear in mind that buying commercial property will have tax consequences, and so early advice from your accountant should be sought at the same time as choosing a lawyer.
How long will it take?
Again, this depends on the circumstances, but we find that the majority of transactions complete within 6-8 weeks, sometimes a little longer, sometimes a little sooner. We will work closely with you to ensure that timescales fit to your needs.