subject: How Commercial Conveyancing Helps You [print this page] When we are planning to expand our business, we usually do it by buying or renting a new building. Now this may sound too easy, but actually its not. There are lots of legal matters and inspection to do before you can buy a property or a commercial building for that matter. A good marketing style and a very affordable price might draw us to fraudulent establishments, but before deciding to actually buy it, we must not be distracted by these things. We must maintain a good sense in decision making or better yet, ask assistance from a credible commercial conveyance solicitor.
Although having a conveyance solicitor will cost more, it will also help you in making the right choice. They will also save you all the legal works and the necessary inspection which you probably have no knowledge or experience at all. A commercial conveyance solicitor is an expert and a knowledgeable fellow that will help you in every step of the way in acquiring your new building. They will also save you the time in some errands that you will need to do if you wont hire a commercial conveyance solicitor.
These are some of the things that your conveyance solicitor will do for you:
In the event that you want to buy a commercial building, your commercial conveyance solicitor will be the one to ask for the pre-contract package that the seller is offering you. Once you have checked it and the package is satisfactory in for your needs, the commercial conveyance solicitor will be the one to apply for a local authority search to find out more from the commercial building that you are considering buying.
Any other form of inquiries necessary to be sure of the property in question will be raised and make sure all the inquiries are answered. If you are dependent on a loan when buying the building, the commercial conveyance solicitor will also be the one in charge to make sure that all the necessary paper works are done for you.
Once everything is ready and you have been satisfied so far, a legal report on the property you plan to buy will be submitted to you.
The signing of contract follows after. Including a legal charge and a stamp duty land transaction return. You will also be asked to give a deposit payment. The contract is exchanged with the seller and the purchase becomes legally binding now.
After the exchange of contracts, we can now proceed with preparation of the final account.
Searches, for the last time, will be made against you and the property.
The balance funds will be handed over to the sellers on the completion date, and the sellers, in exchange, will hand over the title deeds of the property which is now yours.
A stamp duty is paid for and the property will be registered in your name once the registration in the land registry is complete. Once it is complete, the evidence of the transfer of registry will be sent to your lender. If you didnt loan it, then it will be sent to you.
by: Lam Seina
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