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As your business changes, you may reach the point where you want to buy or sell commercial premises. It is crucial to have expert legal support to ensure that this major transaction goes smoothly and that your interests are protected.
At BakerLaw, our Commercial Property solicitors have a wealth of experience in dealing with acquisitions and disposals across a full range of sectors.
Our land acquisitions and disposals solicitors in Farnham can advise on matters including:
- Buying commercial property
- Selling commercial property
- Option agreements
- Property finance
- Buying or selling at auction
- Overage agreements
We know that commercial property is often the biggest investment a business will make, and we understand how important it is to ensure that the transaction is in your best interests.
For advice from expert business acquisitions and disposals solicitors, please get in touch, and we will be happy to help.
Our expertise with acquisitions and disposals
Buying commercial property
Our team deals with a variety of commercial property acquisitions, including retail space, offices, warehousing, industrial units, mixed-use property, and agricultural holdings for buyers of all sizes, from individuals to large companies.
We take on commercial premises that come with substantial liabilities, and we will work to ensure that these are limited as far as possible. We know the importance of moving quickly, and we always work proactively to avoid delays.
Selling commercial property
If you are selling a commercial property, we will put together the contract papers to ensure the buyer has all of the relevant information. We can help you respond to enquiries, and we will work to ensure that the transaction proceeds without difficulty.
If you will be entering into an option agreement, either as a landowner or developer, we can draft and advise on a robust option agreement. Giving developers the right to explore a project, an option agreement allows them the right of first refusal to buy land within a specified period.
We will ensure that your rights and interests are protected, and where necessary negotiate the best possible deal on your behalf. We can also prepare and advise on overage agreements.
Commercial property finance
We know how important the finance aspect of a property transaction is, and we have the experience to meet the stringent requirements of lenders. We deal with complex finance agreements across all main commercial property sectors, and we will ensure that you have the expert advice and guidance you need.
Buying or selling commercial property at auction
We can prepare the auction pack for the sale of a commercial property at auction and deal with enquiries that are raised beforehand by solicitors for potential purchasers.
If you are thinking of buying a commercial property at auction, we can go through the auction pack on your behalf and make sure that you are thoroughly prepared and that you are aware of any risks.
If you are selling land that may have a higher value once it has been developed, we can prepare an overage agreement on your behalf ensuring you will be paid an additional sum should this development go ahead after you have sold.
Acquisitions and disposals explained
What is the process for buying commercial property?
Once you have found a property you are interested in buying and agreed on a price, you will generally negotiate heads of terms. These are the details of the contract that you will be entering into, including covenants that you will agree to, conditions of sale such as satisfactory survey results, any rights that will be granted over the property, the price that you will pay and the proposed exchange and completion dates.
We can negotiate heads of terms on your behalf, working to ensure that the agreement is in your best interests. We will check the proposed contract and information provided as well as carry out the necessary searches, sending a list of enquiries to the seller’s solicitor to be answered.
We will go through all of the information with you to ensure you are happy with the situation and that you are aware of any liabilities you may be taking on.
Once we are happy with the replies, the next step is to exchange contracts. You will need to provide a deposit at this stage, and we will negotiate a completion date for the purchase. If you will be obtaining finance, we will ensure that funds are requested in readiness.
What is the process for selling commercial property?
If you are selling commercial property, we will put together contract papers together with the range of information that the buyer’s solicitor will expect to see. We can work with you to ensure that all replies to enquiries are provided.
We will draft the contract for sale and make sure that your liabilities will be discharged on sale. Where you have a commercial mortgage in place, we will obtain a redemption figure so that it can be discharged on completion.
We will reply to the buyer’s solicitor’s enquiries, and once they are ready to exchange contracts, agree on a completion date.
Throughout your sale or purchase, we will ensure that we are in close contact with you to keep you updated and that you can contact us as necessary to ask any questions you may have.
Contact our property acquisitions and disposals solicitors in Farnham, Surrey
If you are thinking about buying or selling commercial property and you would like to speak to an expert, we would be happy to hear from you.