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Commercial Conveyancing |
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For a business client we can offer a professional service but more local than the City or West End.
As with domestic conveyancing, commercial property is either freehold or leasehold. If a commercial property is freehold, the system of conveyancing is much the same as with domestic conveyancing except that you will be purchasing a commercial property rather than a house or flat.
With leasehold transactions, the lease is very different from that of a domestic lease.You can either be taking or granting to the tenant if you are the landlord, a brand new lease or granting or taking the assignment of an existing lease. Commercial leases have a much shorter term than residential leases with a few years not being uncommon. In addition, in a commercial lease there will normally be a rent review clause to enable the landlord to increase the rent and also a restriction on transferring the lease without the landlord’s consent.
Obviously if you are taking an assignment of an existing lease, there is absolutely no room for negotiation on the terms of the lease since this is already in existence. On a new lease, terms can be negotiated, although it will depend on the landlord as to what they are prepared to be flexible on and what they are not.In commercial transactions you may also be assigning or taking the assignment of goodwill and fixtures and fittings and you may even be taking over certain staff if you are taking over an existing business. |
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Residential Conveyancing |
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Selling your home |
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| Once you decide to put your property on the market you should contact us and we will obtain your title deeds and ask you to complete a number of forms in respect of your property. These forms will form part of the documentation, which we will send to your buyers’ solicitors.
Once a buyer has made an offer which is acceptable to you, we will write to your proposed buyer’s solicitors and send them the draft contract and all the information which has been collected by us in respect of your property.
The buyer’s solicitors will then raise enquiries, which will then enable them to report to their client before exchange of contracts can take place.
Until contracts are exchanged, the transaction is not binding on you or your buyer and you both have the right to pull out of the sale at any time before exchange of contracts |
Buying your home |
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We will write to the seller’s solicitors on your behalf and receive the draft contract and supporting documentation which they will have collected from their client. We will go through the documentation and will consider whether any further questions need to be asked.
We will also decide whether the draft contract provided by the seller’s solicitors is acceptable to you. You will have to arrange your mortgage if there is one. |
When contracts are exchanged |
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Exchange of contracts will not happen until both we and you are satisfied that all the information which we need about the property has been obtained. At the same time as we exchange contracts on your sale and purchase, a completion date will be arranged.
This completion date may be anything from the same date to many weeks later. It is a matter for negotiation. In this period after exchange of contracts we will prepare various documentation. For example, if you are selling, we will check how much is owing on your mortgage and it will be our responsibility to pay off the mortgage on completion. It will also be our responsibility to obtain the money on your mortgage for your purchase so that we can pay for the property on your behalf on the completion date. |
On completion |
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Once exchange has taken place and the completion date has been inserted into the contract we will complete the payment due on your new house and receive money in on any sale. We will also redeem the mortgage on any sale.If your buyer or seller changes his mind
Unfortunately, there is nothing we can do about this before exchange of contracts. It may be that you have got as far as being ready to exchange contracts. It is very unusual for a buyer or seller to change their minds after exchange of contracts and at this stage, you would be entitled to damages.
General
If you have any other questions regarding the services we provide, we will be happy to answer these for you. |
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