Pre-Sale Preparations For Your Commercial Property

Selling commercial property in the UK can quickly become a complex process. There are a wide range of legal and practical considerations that need to be noted. Here at Burgh Thorpe Solicitors, our commercial property lawyers have experience in helping clients buy and sell commercial properties. This is why we have put together some pre-sale preparations for your commercial property.

Before you put your commercial property on the market, there are a few things that you need to thin about. For example, what is your reason for selling the property? By knowing your ‘why’ this will make the sales process easier. It will help you with negotiations and selling decisions too.

If you have decided that you are definitely ready to sell your commercial property, consider if now is the right time. Is the current climate right for selling a commercial property like yours? This is something that our commercial property lawyers in Peterborough can look at with you. If your main reason for selling is to raise funds, but the market is not right, there may be other options available.

It’s a good idea to obtain professional valuations. This will help you to establish an asking price. Take the time to compare similar commercial properties in the area too. While this is the most straightforward approach, there are other ways that you can gain a valuation for your commercial property.

These are all options that our legal commercial property experts can go through with you. For example, the cost approach and the income approach. You may also want to look at gaining an investment analysis for the commercial property too. This can all help towards creating the right valuation for your commercial property.

Other pre-sale preparations for your commercial property include gathering the relevant documents. This includes title deeds, leases and planning permissions. It is a good idea to ensure that the energy and fire safety certificates are prepared too. You may also want to prepare rental payment history, building insurance details and building regulations consent.

There are a number of documents that will be needed for due diligence. These will be requested by the buyer’s solicitor. Our commercial property solicitors will go through what you need to prepare and when it is needed. There guidance will help to reduce potential delays and stress, making the commercial property sale transaction as smooth as possible.

Need help managing the sale of your commercial property? Call our commercial property legal experts in Peterborough now.