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A guide to preparing your commercial property for sale

It could be argued that selling a commercial property, or a property of any kind for that matter, is just as important as its purchase. This is because every property transaction is a two-way process between a buyer and seller. How you prepare as a seller therefore...

What is the problem with leaseholds?

What is the problem with leaseholds?

To answer that you first need to know: What is the difference between freehold and leasehold?    IF YOU OWN THE FREEHOLD, YOU OWN THE PROPERTY INDEFINITELY.   IF YOU OWN THE LEASEHOLD THEN EVENTUALLY THE LANDLORD WILL GET THE PROPERTY BACK.   The problems flow really...

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What is Leasehold Property?

What is Leasehold Property?

There are two ways to own property: Freehold and Leasehold. A Freehold is when you own the property indefinitely, with Leasehold property you have the right to the property for only the length of the Lease. The Lease is granted by the Freeholder so when the Lease...

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So what exactly happens when you’re buying a property?

So what exactly happens when you’re buying a property?

Your Toomey Legal step-by-step guide  This is a very brief step by step guide of the purchasing process. There may be additional things come up which means that one or more of the stages are not applicable or they may be delayed due to individual circumstances. Toomey...

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Environmental due diligence in commercial property transactions

With the Corporate Sustainability Due Diligence Directive legislation expected to reach an agreement soon, companies will be expected to make a host of changes to be more environmentally friendly. As such, it’s likely that business leaders already have a focus on the...

What you need to know about stamp duty land tax in commercial conveyancing

It’s law that any property buyer must declare the circumstances of their transaction with HMRC. The nature of your declaration can lead to additional tax considerations, especially when it comes to the transfer of commercial property. One such potential charge that...

A guide to preparing your commercial property for sale

It could be argued that selling a commercial property, or a property of any kind for that matter, is just as important as its purchase. This is because every property transaction is a two-way process between a buyer and seller. How you prepare as a seller therefore...

Can I buy a commercial property for personal use?

Buying a commercial property for the first time may seem daunting. In fact, many individuals don’t consider whether or not commercial properties can be used for personal use. This means they might miss out on properties with features that are ideal for them, or that...

The importance of title searches in conveyancing

As you may know, the conveyancing process comes with a variety of different steps that ensure buyers and sellers reach an agreement that is beneficial for both parties. One such step that is often overlooked or misinterpreted is the title search. Below, we use our...

Legal pitfalls to avoid: Common issues in commercial real estate transactions

If you’ve ever purchased a house before you’ll know the intricacies involved in purchasing a property, the same principles apply in buying commercial property, with just as much risk that something won’t go according to plan. In this guide, we’ll be exploring some of...

Is a commercial property a good investment?

Buying a property can be beneficial for many reasons beyond simply putting a roof over your head. Investing in a range of residential and commercial property can expand and diversify your property portfolio. You don’t have to be a landlord for property to yield...

Due diligence checklist: Essential steps before buying a commercial property

Buying commercial property is an important financial decision that shouldn’t be taken lightly. When you find what you believe to be the right property to suit your needs and purpose, following due diligence is essential to ensuring that there isn’t anything unexpected...

Do new build properties hold their value?

The housing market is in an unstable place at the moment with a lot of fluctuation in house prices. As a buyer, you may be considering a new build property when exploring your options and that could certainly be the right decision, as buying a new build comes with...

Can a first time buyer buy a commercial property?

Buying a commercial property can be a great investment opportunity for many people, but if you’re a first time buyer, you might be wondering whether you can buy a commercial property. There is often much less guidance out there for buying commercial property in...