There are some real advantages to putting in hand steps to prepare your property for sale even before it is put on the market. We can assist you with this preparation.
Commercial Property Partner Oonagh McKinney outlines some steps that can be taken to prepare your commercial property for sale.
What are the benefits of ensuring that commercial property is ready for sale at the outset?
Ensuring the property is ready for sale at the outset will:
- Reduce unnecessary delays and costs
- Identify any adverse issues that can be resolved or agree a negotiating strategy to minimise the risk of a buyer trying to re-negotiate the price or avoid the sale falling through.
What steps should be taken to prepare my commercial property for sale?
Below we’ve recommended some steps that you should take to ready your commercial property for sale, and to increase the likelihood of the sale being smooth.
What documents are required to sell a commercial property?
- Start collating Property and Management Information. We can provide a list of documents a buyer would require
- Obtain a copy of the title and any documents referred to on the title
- Provide copies of all occupational leases, licences or other contracts which may affect the title
- Do the actual boundaries match the title plan? Make sure you have an accurate plan if it is a sale of part
- Obtain full details of any mortgage secured on the property by obtaining an up to date redemption figure.
What other documents do I need to obtain to sell commercial property?
- Obtain an Energy Performance Certificate (EPC) if applicable
- Do you have an up to date asbestos report and management plan?
- Prepare Commercial Property Standard Enquiries and obtain documents referred to in those replies such as: Planning documents, fire risk assessment, VAT and capital allowance information, construction documentation and warranties on a newer property.
What issues might there be when selling commercial property?
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