Do I need advice from a commercial conveyancing lawyer?

Commercial conveyancing lawyers are specialists at preparing the legal and administrative work for the transfer of commercial property interests. When selling a commercial property, your commercial conveyancing lawyer will gather title documentation, the Energy Performance Certificate and the contract for sale. For the buying party, the solicitor will conduct searches over the property. This is especially important in commercial transactions as covenants against the property could restrict the activities you plan to carry out there.

Once the property searches, valuation and commercial building survey is carried out, and the contract for sale agreed, your specialist commercial conveyancing solicitor can recommend that contracts are signed and exchanged.

In English law, the exchange of contracts is legally binding on both parties. It is therefore not normally possible to pull out of a contract once exchange has taken place.

In many commercial transactions the property in question is often leasehold rather than freehold. In these cases it is vitally important that a commercial conveyancing solicitor inspects the terms of the lease, ensuring that there are appropriate break clauses and no onerous terms.

Once contracts for sale are exchanged there is usually a delay to organise the move prior to the completion date. For completion, your commercial conveyancing solicitor will prepare a deed of transfer and arrange for funds to be transferred to the other party. For transactions over a certain value, the buyer’s solicitor may also need to arrange for the payment of stamp duty. Completion represents the final stage of the transaction.

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