What is commercial property conveyancing?
If you're buying or selling a commercial property, you'll need to engage the services of a conveyancer. Conveyancing is the legal process of transferring ownership of a property from one person to another, and it's a complex area of law. Our team can guide you through the process and help ensure that everything goes smoothly.
The signing of a contract of sale by the buyer and seller is the first step in the conveyancing procedure. The agreed-upon purchase price for the property and any other relevant terms and conditions will be spelled out in this contract. Both parties are contractually required to proceed with the sale once this agreement is signed.
The conveyancer will do several searches on the property after the contract is in place. These searches are intended to find any potential issues, such as unpaid building permit or planning permission fees, that might have an impact on the sale. The conveyancer will also obtain a copy of the property's title deeds, which will reveal who the property's owners are and whether the property is subject to any use restrictions.
Once all of the necessary searches have been completed, the conveyancer will arrange for a date to be set for completion. On this date, the buyer will pay the agreed purchase price to the seller, and ownership of the property will be transferred to them. The conveyancer will then deal with all of the relevant paperwork and ensure that everything is in order for the new owner.