Commercial Leases: What Does a Solicitor Bring to the Table?

According to government statistical reports there have been over a hundred thousand residential property transactions as of February this year. Apart from this, there were also over ten thousand non-residential property transactions that took place.

Part of commercial property transactions involve the signing of commercial leases or agreements. Where many seasoned property managers and investors know how to stay on top of such paperwork, there are also those whose expertise lies elsewhere. That’s where commercial property solicitors come in.

Why Hire a Solicitor When Working with Commercial Leases

If you are in the process of either buying or selling commercial property and are not generally associated with the real estate industry, it might be advisable to get assistance. A solicitor can be an extremely helpful asset when making a commercial property transaction and here’s why.

Knowledge of Property Laws

The first thing a property solicitor brings to the table is knowledge with regard to property laws. This knowledge as well as experience in dealing with property matters in general is helpful when drafting agreements as well as when trying to understand the implications of the same.

Legal Jargon and Terminology

Contracts and agreements that pertain to property or anything else contain a fair bit of technical terminology and legal jargon. Such terms and jargon often confuse laypeople trying to understand such agreements.

A property solicitor will help simplify the contract for you and walk you through the particulars so there is no uncertainty with regard to what you’re getting into.

Negotiation

A property solicitor may also help you when it comes to negotiating prices as well as other terms. If the sales agreement requires amendment, your property solicitor will be responsible for the same.

Negotiating can be a tedious process and it is tricky making sure the agreement being signed is truly to your benefit. A property solicitor will ensure that whatever agreement is set benefits both you and the other party. They will also take on any running about associated with changing agreements and help mediate face to face negotiations.

Particulars and Fine Print

It often happens that when buying or selling property, parties miss out on nuances within the agreement that tend to damage them financially later on. A property solicitor works as a trained set of eyes looking out for your best interest.

If they find any particulars, loopholes or nuances in the fine print that may impact you negatively, and ensure that amends are made or that the deal is called off!

Winding Down

To make a long story short, a property solicitor streamlines the process of commercial leasing, and purchase or sale of commercial property.

If you’re in need of a commercial property solicitor, feel free to connect with our company. We offer a range of legal services including immigration, family, property and personal injury law and litigation. If you’re about to make a commercial property transaction, we advise you hire a property solicitor to help you through your commercial leasing process!