We can assist with purchases or sales of commercial property by undertaking the legal due diligence involved including the review of service contracts and leases, drafting the contract of sale allowing for any special conditions required, liaising with stakeholders regarding conditions, undertaking and reviewing property searches, calculating settlement statements, stamping transfer documents and attending settlement.
Purchase and sale of a commercial property may have contracts that look very similar to residential contracts however there are some key differences, the main ones been the “Special Conditions”.
Special conditions might include:
- obligations around searches
- preconditions on foreign investment review board (FIRB) approval
- subject to environmental inspections
- specific settlement terms
- improvements on property
It is important that in any commercial property sale or purchase that the contract is prepared properly and advice is given regarding its content prior to execution. NB Lawyers have the knowledge and experience to provide specific and tailored advice to ensure a smooth transaction.