Buying Commercial Property
Buying Commercial Property Lawyers East Lothian
Our Commercial Property lawyers provide a complete legal service to clients searching for a new business premises in East Lothian. We will see your transaction through, from advising on the right property to meet your commercial goals to completing the deal. With extensive knowledge of the local market and commercial law expertise, we are well equipped to help you get the best return on your investment.
Purchasing Commercial Property in East Lothian, Scotland
We understand there are many considerations when buying a commercial property: what’s the right decision for my business? How will I fund the purchase? How long will the process take? Our Commercial Property lawyers will gain an in-depth understanding of your objectives and provide clear and practical advice on how best to achieve them. Once you are ready to buy a property, we will take care of the legal steps involved.
Titles, Searches and Enquiries
Our team will carry out due diligence on the property you are interested in to identify any potential issues with the legal title, condition of the building and its surrounding area. We will request this information at an early stage of the transaction and raise relevant enquiries with the seller so that if any adverse matters are found, these can be dealt with immediately.
Negotiation of Terms
We will prepare a draft offer and send this to the seller’s solicitor. The seller will respond with a qualified acceptance, which our team will discuss with you and either tweak further or accept. This exchange of formal letters (known as missives) continues until both parties are in agreement. During this stage, we will keep you updated regularly and ensure your interests are protected during negotiations. When you are ready to accept, we will sign the contract on your behalf.
We will manage the lead-up to settlement, ensuring the correct documentation is received and signed, and that the purchase price is delivered to the seller’s solicitor. We understand most transactions are time-sensitive. Our team work quickly and accurately, and maintain regular communication with all parties, to ensure this stage of the process progresses as smoothly as possible.
After the sale is complete, our team will submit your Land and Buildings Transaction Tax (LBTT) return and payment to Revenue Scotland. We will also register your legal title with the Land Register within the required timeframe.