Buying a property and moving is stressful enough without having to question whether you’ve chosen the right conveyancing solicitor. This is particularly true when you are buying, selling and dealing with commercial property. After all, this type of conveyancing has distinct differences to residential type of conveyancing, and is generally more complex. There are however, many so called conveyancing solicitors and the key is to know how to choose the right and best conveyancing solicitor for your particular transaction. |
There are some things to consider, the first being cost. Although cost is an important factor, you should not let it become the only thing you take into account and/ or the only determining factor. You need to be sure that you appoint a solicitor and law firm which will be able to protect your business interests and ensure that you get the desired result. You should search for a firm which specialises in this type of law and a firm which offers this as a key specialist service and has substantial experience in advising on commercial conveyancing cases. Even if they offer residential conveyancing, check to see if they have expertise in advising on commercial property and offer a specific commercial conveyancing service. You need to bear in mind that both types of conveyancing are significantly different.
Commercial conveyancing costs can generally range from £1,000 upwards, depending on the complexity of the work involved and the value of the property. A solicitor will also charge for any additional costs they incur (called ‘disbursements’) such as land registry searches. Given the expenses involved, it is important to understand up front how a solicitor will charge you. Commercial Solicitors are required to give you an estimate of their fee. It is a good idea to initially get a fee quote over the phone and follow this up with a quote in writing including by email so that you have a written record of the quotation should you need to refer back to it. In all cases such as this, the solicitors fees must be consistent with the initial estimate unless they have agreed a variation/ increase. The Solicitors Regulation Authority has a defined code of conduct when it comes to fees and charging fees which any solicitors practice must follow. If your solicitor does not comply with this code of conduct then you could consider contacting the Legal Ombudsman.
An additional resource that might assist you in finding a suitable solicitor is the solicitor search facility on the Law Society website. You should also ensure that any conveyancing solicitor that you appoint works for a SRA authorised and regulated law firm. You should make sure that the law firm has comprehensive professional indemnity insurance should things go wrong. In the selection process, make sure you carry out these necessary checks and make sure you consider other aspects such as experience, availability and where they may be located.
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