Written by Helen Robinson
Whether you are selling or purchasing a commercial property it is safe to say that you will want the transaction to be completed as efficiently as possible.
Delays can cause a great deal of frustration, so it is important to have experienced legal advice on your side.
However, there are a number of ways you can help us get you moving.
1. Instruct your solicitor early
In many cases, a person selling a commercial property will not instruct a commercial property until the sale of the property has been agreed.
However, instructing your solicitor before the property goes on the market can speed up the commercial conveyancing process considerably.
Your solicitor will have the time to prepare all the necessary paperwork in advance of the sale being made. This can be even more important if you are selling a leasehold property where more parties are involved in the transaction.
2. Remember that by instructing early, you could save you money
A worry that many people planning to sell a commercial property is that instructing a solicitor early could cost more money.
If a deal falls through, you may be worried by the possibility of being left a line of legal fees and no sale to show for it.
Yet in many cases, fees can be negotiated and then only be paid once the transaction completes or paid in instalments. This means that you can have access expert advice early, without the financial risks.
3. Begin the transaction with as much information as possible
Ensuring that your personal information is in order at the beginning of the process can save some serious time.
In most cases, you will need to provide information including:
- Details of mortgage lenders
- Contact details of all parties and representatives
- Proof of ID
4. Respond to queries as quickly as you can
If you receive any forms to be completed or any queries from a party involved in the transaction, try to respond as quickly as you can. This will help to avoid any delays and keep the process moving.
5. Always make sure you check information carefully
Although a quick response can help speed up the commercial conveyancing process, it is vital to check any correspondence carefully.
If you receive anything that you don’t understand, simply get in touch with your solicitor. Your solicitor is there to ensure that your needs are fully represented throughout the process.
Receive specialist commercial conveyancing advice today
To discover how we can help your sale or purchase run smoothly, contact Commercial Matters today.
Speak to a specialist solicitor by calling 01282 695 400, or simply complete our online contact form to arrange a quick call-back.