Commercial estate agent in London can help you navigate the complex world of buying commercial property in the Capital. Buying business premises in London is not a simple as buying a house privately. This guide to exchanging contracts should introduce you to the steps involved in doing so.
The commercial estate agents London based that you use will recommend a surveyor and solicitor team who will negotiate the terms of the contract with the building or office space seller. They will also get approval for any planning permission you need. In addition, they will ensure that any necessary checks on the building have been made. Working with the seller’s solicitor team, they will work to ensure that all parties involved in the transaction are happy with the contract. Once you exchange contracts via your estate agents London based, the purchase is legally binding. Note that until this point you can be ‘gazumped’ meaning the seller can back out, selling to another party. Try to negotiate an agreement to prevent this. Upon exchanging contracts, you will need to pay your deposit. Following this, you can complete the purchase. When completing, your solicitor hands over the purchase price in deposit and mortgage to the seller’s solicitor, you are then liable for mortgage repayments. During completion, you should also ensure the following: that you have insurance, that Stamp Duty Land Tax is paid, that the Land Registry registers your ownership and any necessary Healthy and Safety checks are completed. Your solicitor will receive the property deeds that will then be sent on to the mortgage lender.
We are Next Property, a commercial estate agent in London. We help businesses take the next step in their journey, expanding and buying commercial property. Whether you are looking for a shop, office space, or an industrial unit, we have the right property for you. View our properties online at http://www.nextproperty.co.uk/ or call +44 (0)207 118 0000 to find out more.