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Do I Need A Solicitor To Sell A Commercial Property?

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Do I need a solicitor to sell a commercial property? The short answer is yes, it is highly recommended to use a solicitor when selling a commercial property. Here’s why:

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Why You Need a Solicitor To Sell A Commercial Property?

Selling a commercial property involves complex legal processes that require the expertise of a solicitor. A solicitor can help you navigate the legal aspects of the sale, ensuring that all necessary documents are prepared and executed correctly.

This includes drafting and negotiating contracts, conducting due diligence, and handling any disputes arising during the sale process.

Benefits of Using a Solicitor

Using a solicitor can provide several benefits, including:

  • Expertise: Solicitors have extensive knowledge of commercial property law and can guide you through the sale process, ensuring that all legal requirements are met.
  • Risk Management: A solicitor can help identify potential risks and liabilities associated with the sale, protecting your interests and minimizing the risk of legal disputes.
  • Time-Saving: Solicitors can handle the legal aspects of the sale, freeing up your time to focus on other important matters.
  • Cost Savings: While solicitors’ fees may seem like an additional expense, they can help you avoid costly mistakes and ensure that the sale is completed efficiently, potentially saving you money in the long run.

What a Solicitor Can Do for You

A solicitor can assist with various aspects of the sale process, including:

  • Drafting and Negotiating Contracts: A solicitor can prepare and negotiate contracts on your behalf, ensuring that your interests are protected.
  • Conducting Due Diligence: A solicitor can conduct thorough due diligence to identify any potential issues with the property, such as outstanding debts or disputes.
  • Handling Disputes: If any disputes arise during the sale process, a solicitor can represent you and work to resolve the issue efficiently.
What fees do you pay when selling a commercial property
You will also need to consider the cost of removing any equipment, furniture, or other items that are not included in the sale.

Other costs associated with selling a commercial property

In addition to solicitors’ fees, there are other costs associated with selling a commercial property, including:

  • Estate Agent Fees: You must pay estate agent fees, which can vary depending on the agent and their services.
  • Valuation Fees: You may need to pay for a commercial valuation to determine the property’s value.
  • Survey Fees: Depending on the property’s condition, you may need to pay for surveys or inspections to identify any potential issues.

Can I Use a Conveyancer Instead of a Solicitor?

While conveyancers can handle some aspects of the sale process, they are not qualified to provide legal advice. For complex commercial property sales, it is recommended to use a solicitor who specialises in commercial property law.

How Much Do Solicitors' Fees Typically Cost?

Solicitors’ fees can vary depending on the complexity of the sale and the location of the property. On average, fees can range from £1,300 to £1,600 plus VAT and disbursements.

Can I Negotiate Solicitors' Fees?

Yes, you can negotiate solicitors’ fees. It is essential to shop around and compare quotes from different solicitors to find the best deal for your needs.

Can I sell my commercial property quickly without using an agent?

Yes, you can sell your commercial property quickly without using an agent by using a professional commercial property buyer.

If we have not put you off from selling your commercial property, then we’d love to buy it for cash.

Find out why landlords prefer selling their commercial property fast, having tried to sell via an agent.  Get in touch today to see how we can help.

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  • The price we’ll offer is the price that you will receive with no hidden deductions.
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  • No long exclusivity agreement to sign because we are the buyers.
  • You are welcome to use your own solicitor. 
  • If you don’t have one, we can ask our solicitors for recommendations.
  • We share our solicitor’s details and issue a Memorandum of Sale. 
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