Written by Helen Robinson
At Commercial Matters, our team of highly qualified business property solicitors help hundreds of businesses every year to buy or sell a commercial property.
In light of this, we’ve put some top tips together for you to help your next purchase or sale to move as quickly and as stress-free as possible for you.
It’s important that you are realistic with the price you want for your property, dropping your price slightly may save you months of waiting, attract more potential buyers and could be offset in savings made in mortgage repayments.
Have any documentation to hand which relates to your property before negotiations get underway. This could significantly speed up your sale. These documents could be lease agreements, any consents, or warranties or building regulations. Working through them in advance could save you a lot of time.
Looking through these documents could also flag up any steps or actions you need to take before you complete your sale. For example, you may discover that steps need to be taken by your landlord if you are assigning or underletting.
Make sure that Heads of Terms have been agreed with the buyer and are passed onto your respective legal representatives as early as possible once the sale has been agreed.
It’s important that you have and keep a clear picture in your mind of what you need from a commercial property rather than what you’d like.
You need to make sure the property is big enough, that there’s enough room for your staff, adequate storage and places to park if required. Buying a property that offers you room to expand should your business grow could save you having to relocate again down the line.
Location is also key to your property, consider if you need to be close to your suppliers and if the location services your business needs, but also question how the move will affect your employees and them getting to and from work.
All of the above need to be considered with a clear budget in mind for your commercial property and whether you would need to make any improvements before it is fit for purpose.
Speak to a specialist solicitor at Commercial Matters today
To discover how our specialist solicitors can help your sale or purchase run smoothly, contact Commercial Matters today.
Call us on 01282 695 400, or simply complete the quick online contact form to book your free initial consultation.