Buying A Home
When buying a home, you need a solicitor or conveyancer to process the legal purchase of the house, flat or land you are buying. Once you have had an offer accepted on a home, you will need to move quickly in instructing a solicitor or conveyancer to liaise with the seller’s solicitor and the agents on getting the purchase through to completion.
The transfer of ownership of land is one of the few things which absolutely must be witnessed and processed by a solicitor or conveyancer, so this is not a cost you can avoid, although the price range will vary amongst different firms. One reason for this legal requirement is that buying a house carries many risks, particularly if you are taking a mortgage on the property, and the legal principle behind doing so is known as ‘buyer beware’, meaning what the buyer doesn’t find out about the property becomes their problem. So it is important to have a legal advisor in this process who can spot potential issues and minimise your risk.
Estimated Legal Fees: £600 – £1500 + disbursements + stamp duty + VAT
The transfer of ownership of land is one of the few things which absolutely must be witnessed and processed by a solicitor or conveyancer.
Selling A Home
If you are already a homeowner and are selling your property, you will likely have some experience of the conveyancing process from purchasing the property. As with buying a home, this is something that by law you have to use a conveyancer or solicitor to process. It may be that you are buying somewhere else at the same time in which case you will need a solicitor who can manage both aspects of this process in the most streamlined way.
Estimated Legal Fees: £1500 – £2000 + disbursements + stamp duty + VAT
As with buying a home, this is something that by law you have to use a conveyancer or solicitor to process.
If you are buying a property but you don’t intend to live there then you need to know there are different rules on stamp duty land tax, mortgages and legislation about how the property must be kept to ensure the safety of your tenants. The conveyance process itself will be largely the same as buying any home, as will the costs, but you will need to be aware of the different laws that apply and different rates for borrowing. It is also a source of income on which you will be taxed, so you will need to obtain separate advice from a tax expert on this.
If you own a leasehold property, you will have a certain number of years left on the lease referred to as the duration of your lease. The duration of your lease can affect the value of your home, so if your lease falls beneath 80 years, it is common to seek to extend your lease because after the lease falls below 80 years it will cost more to extend it. You can extend a lease on a flat if you qualify by 90 years and 50 years on a house if you qualify.
The cost of extending a lease varies according to several factors, including the value of the property, but you should seek specialist advice if you or other leaseholders in your building are considering a lease extension.
Commercial Property Law
Buying A Commercial Property
When you buy a commercial property you have to go through layers of red tape, face hidden risks and hand over over huge sums of cash. If you do decide to buy instead of rent, it is likely you’ll need to get a commercial mortgage which adds another layer of complexity.
Not only will you need to do your due diligence, look at planning issues, negotiation between the seller and yourself, stamp duty, the land registry, but also interact with mortgage providers.
You cannot be expected to do all of this work by yourself. You need a legal specialist that can assist with your real estate transactions at every stage of the process.
Estimated Legal Fees: 0.2% to 1.25% of the value of the transaction + VAT
If you do decide to buy instead of rent, it is likely you’ll need to get a commercial mortgage which adds another layer of complexity.
Selling A Commercial Property
Selling your commercial property can be just as complicated as buying one because there are lots of things to consider. The first step in any sale transaction is to provide the potential buyer with a Title Deed, or official copies of the Registered Title and Title Plan. You will also need a:
- Sale contract: A formal agreement between yourself and the Buyer detailing the terms of sale.
- Commercial Property Standard Enquiries: A standard set of forms used in every commercial sale transaction which the Seller completes and provides to the Buyer.
- Planning Documents: If you have had your property altered or extended in any way, the Buyer will want to ensure that the building works were completed in accordance with all relevant Planning Permissions and Building Regulations.
- Energy Performance Certificates: A seller of a commercial property is usually required to provide an Energy Performance Certificate to the purchaser.
- Health and Safety Reports
Selling your commercial property can be just as complicated as buying one.
Linkilaw can give you access to quality legal advice and the support needed to make the selling of your commercial premises as efficient and pain free as possible. We act for businesses of all sizes from the sole trader looking to move to larger premises to large companies or partnerships looking to dispose of their property.
Estimated Legal Fees: 0.2% to 1.25% of the value of the transaction + VAT.
Commercial Property Leases
If you’re a landlord or tenant, commercial real estate agent or property investor, securing your place of business to secure your monthly revenue with essential legal support is crucial.
You’re going to need specialist commercial lease solicitors to assist with whatever you could need:
- Office leases
- Retail tenancies
- Industrial leases
- Lease extensions
To make your transition from one property to another as easy as possible you need a solicitor to ensure your relationship between with your landlord is legally regulated. Our lawyers will not only make sure your relationship is rock solid but also help you negotiate an advantageous deal.
Commercial Property Disputes
Unfortunately disputes are all too common – especially in commercial property law. If you have a dispute with your tenant or landlord it could prove very disruptive. You need the best litigators in your corner. We’ll ensure your matter only goes to the most experienced property litigators we have in our marketplace. They’ll advise you on the best options to settle a dispute, ideally without going to court. By doing so you can bet that the price tag will be greatly reduced.
- Pre-action letters
- Negotiated settlements
- Arbitration through to formal court proceedings including subpoenas, injunctions and trial advocacy
- Alternative Dispute Resolution