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Before beginning your search you should take some time to think about the type of commercial property you need. Ask yourself what size of property would be appropriate and whether the property needs to be in a specific location. Could you move to an Enterprise Zone and benefit from enhanced rents? Does the property have to have special features such as a loading bay? And of course how much you can afford would also need to be carefully considered. Your estate agent can help you locate the right property for your needs. It is also vital to retain the services of a commercial property solicitor that can handle the legal aspects of the purchase. They will have to perform the necessary searches on the property and also have a structural survey completed by a professional surveyor. A commercial property solicitor will also negotiate the purchase price with the seller and go over the contract of sale. When you have agreed a price, your solicitor can begin to move through the rest of the conveyancing process. If you are not buying your property with your own resources, a mortgage will be required. Again, your commercial property solicitor can help you make your application to the lender. Many mortgage lenders will not release mortgage funds to buyers unless they are represented by a solicitor. When all the formalities of buying your commercial property are completed, your commercial property solicitor can exchange the contracts with the seller and conduct the completion.
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