Top tips: Our guide to buying land
If you are considering buying some land, but you are unsure of the process of the transaction we have a step-by-step guide to the process. At WSP Solicitors, we like...
Commercial Property Solicitors
Our experienced and friendly solicitors will make the whole process smooth and painless, handling everything from the beginning till the end.
Read more about Landlord’s solicitor responsibilities.
A step by step guide when acting as a Landlord’s Solicitor
Although each transaction in our Commercial Property Department is unique and tailored to your individual needs, this guide should provide an indication of the steps undertaken and to understand the procedure of your Landlord’s solicitors.
At the start of each new file we will require you to:
We will contact the tenant’s solicitors to:
We will request information from you in order to prepare the draft papers. This would typically include:
We will use this information, along with the Heads of Terms, to then issue the Lease for the purposes of the transaction.
If required, we will also produce:
As part of the tenants’ due diligence, they may raise enquiries or make comment on the draft papers. We will liaise with the solicitors and client to ensure that enquiries are answered.
Once the Lease is in an approved form, we will prepare the final document(s) for signature. You will be required to sign the documents(s) in the presence of a witness.
If your property is charged to a bank, we will submit a request for formal consent to the lease before completion.
If you require that we collect a rent deposit, rent and or service charge at completion, we will prepare a completion statement and forward a copy to the Tenant’s Solicitor.
The tenant’s solicitor will transfer these monies to our client account before completion.
Once we are holding the Lease signed by you and the tenant’s solicitor holds their papers, we will be able to complete. The completion of the lease (and any supplementary documents) takes place by both solicitors over the telephone. Once the documents are completed, we will advise you accordingly. Keys can then be released to the Tenant.
Following completion, we will send your signed document(s) to the tenant’s solicitors and supply you with a copy of the papers signed by the Tenant upon receipt.
Hope this helps you understand your landlord’s solicitor and the procedure.
For expert landlord and tenant advice, please contact our local offices in Gloucester or Stroud today. If you have a quick question or would like to request a call back, you can also use our quick online enquiry form.
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WSP is the one-stop superstore for all your legal requirements. It is staffed with friendly, professional and expert people who are a pleasure to deal with. As a long term user of the company I always recommend WSP to all of my friends based on my own happy experience.D. Wilkins
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