Buying a Commercial Property
Service: Acting for the Buyer in buying a commercial property
- Under £100,000 of Sale Price - £949 plus VAT
- £100,000-£350,0000 of Sale Price - £1479 plus VAT
- £350,000-£500,000 of Sale Price - £1949 plus VAT
- £500,000-£750,000 of Sale Price - £2479 plus VAT
- £750,000- £1m of Sale Price - £2749 plus VAT
- £1m above – price on application
If the matter does not proceed to completion then half of the above fee will be due.
In addition to the fixed fee above the following fees may also be payable:
- Payable in all cases - Bank Transfer Fee (per transfer) - £40 plus VAT
- Payable in all cases - Electronic Identification Fee (per person) - £10 plus VAT
- Search Fees - £600 plus VAT
Included in the service
- Negotiating the contract for the sale in accordance with the Heads of Terms
- Dealing with your enquiries of a legal nature with the Seller’s Solicitors
- Report to you on the terms of the sale
- Undertaking all necessary conveyancing searches and reporting to you on their contents
- Completion of the sale
- Payment of SDLT (if any)
- Registration at HM Land Registry
What is excluded from the service?
- Legal advice outside the scope of the service described above
- Advising and renegotiating the Heads of Terms
- Tax advice
- Work in connection with occupational tenants. Once any leases are ascertained then a fixed fee for dealing with any tenancies can be confirmed to you.
- If the property is leasehold it does not include an additional work ion connection with the review of the headlease.
- It does not include the costs of buying a business too. Please click here for more information on legal fees for buying a business.
SDLT will also be due and you can calculate your liability by reference to the following link. If VAT is payable on the price the SDLT is payable on the price + VAT.
Land Registry Fees are due and will be payable based upon the purchase price and using the following link.
If the buyer is a company taking lending then a Companies House fee will be payable of £23.
In all cases bankruptcy and final searches will be due of £25.
If the premises are leasehold then notice of the transfer of the premises will need to be served on the Landlord whose costs typically range from between £50 and £200. We will confirm he figure once it is known to us.
How long will it take?
Timescales vary and on average it will take 4-6 weeks but it depends upon a number of factors outside of our control. We will endeavour to complete the matter as quickly as possible within your timescales.
Who will do your work?
When will I pay?
You will need to pay 50% of the fixed fee on account together with the search fees. The balance of fees and disbursements will be due on completion.
How do I instruct Attwells Solicitors
Instructing us is simple. You can either click on the instruct button below to register your interest or you can call us at your local office. We have offices in Ipswich, Colchester and London. When instructing us please inform us of the office you would like to use.