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When you are buying a commercial building it is easy to focus on the obvious: price, location, condition.
However, what is written into the legal documents matters just as much as what is on site.
That is where legal due diligence comes in. It is the process of checking what you are buying, how it can be used, and whether there are any legal issues that could cause problems down the line.
You might assume that if the property has a clear title, there is not much to worry about. In practice, there is usually more to look at. For example:
These are the kinds of questions that do not come up unless someone looks for them, and that is our job.
Many buyers are now being caught out by energy efficiency rules.
If a building has a low EPC rating, you may not be able to let it out, and upgrading older buildings is not always straightforward.
It is something we routinely check, especially if letting or resale is part of your plan.
If you are borrowing to fund the purchase, expect the lender to look closely at the legal detail.
If we find problems with the title, planning, or leases, and they are not resolved, your lender may pull out.
It is much easier to deal with these things early, while you still have room to make decisions.
We won’t drown you in legal jargon or send you 40 pages of disclaimers. We will tell you what you need to know, what needs fixing, and when to walk away.
If you are planning to buy commercial property this year and need legal help with due diligence checks, contact us today.
Solicitor – Commercial Property Department
My role with Mander Hadley involves specialising in commercial property transactions. I particularly enjoy the intricacies and complexities of Property Law and, as an empathetic lawyer, I aim to provide my clients with a personal, friendly and professional service.
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