Solicitor for Selling Commercial Property

What does a solicitor do when you sell commercial property?

Your solicitor prepares the contract and the information the buyer needs, answers the buyer’s solicitor’s questions, and completes the sale. When I act for you, I:

• prepare the contract and the supporting documents;
• help you complete the replies to the standard commercial enquiries;
• answer the buyer’s solicitor’s questions as they come in;
• exchange contracts, and on completion pay off any mortgage and send the sale money to you.

What documents do I need when selling commercial property?

The main ones are:

• planning permissions and building regulations approvals for the property and any works;
• the energy performance certificate;
• if the property is let, each lease and its related documents, with details of the rent, any arrears and the service charge;
• guarantees and warranties for any works;
• details of any mortgage, so the amount needed to pay it off can be obtained.

I obtain the title from HM Land Registry. If you hold older deeds, please tell me.

Is VAT charged when I sell?

It depends on the property and on whether you have chosen to charge VAT on it. Please tell me early, and check the position with your accountant.

I reflect the position in the contract and the replies to enquiries. I do not give tax advice on VAT.

When should I instruct a solicitor?

As soon as you decide to sell. If you instruct me early, the documents and the replies to enquiries can be prepared before a buyer is found, so the contract pack is ready when the sale is agreed.

How it works

1. You tell me about the property, any tenants and any mortgage.
2. I send you a fixed-fee quote and tell you which firm will act for you.
3. Identity checks and documents are handled online.
4. I prepare the contract pack and answer the buyer’s solicitor’s questions.
5. You sign online, or by post where that is needed, and we exchange contracts.
6. On completion, I pay off any mortgage and send the remaining sale money to you.

Fees

My fixed fees for selling commercial property depend on the value of the property. They are on the Fees page, shown plus VAT and including VAT.