Commercial and office buying spaces

When we want to sell commercial property in greater Noida first comes the fact that all the heads of the terms and conditions are agreed between the parties and the agents. This heads of the terms and conditions include:

Transaction process at the time of selling.

“Subject to Contract” with legal proceedings.

Legal drafting with accurate output

Whether any types of VAT are there or not.

The extent of the land to be sold.

Any other types of rights that need to be retained.

All the different timescales.

Energy Performance Certificate that is the property is still empty until the property is exempt from having one.

After all the heads of the terms and conditions are agreed between the parties and the agents. Then comes the Solicitors instructed and obtaining of the Title documents. Then after this comes the diligence of the Buyer. During the process of due diligence, the buyer may ask us various types of additional information about the commercial property to buy. We need to make sure that all the information that is supplied to the buyer should be accurate as the buyer is entitled to rely on the all that information that the provided or given by us. This types of questions generally include topics such as:

The business rates information.

Whether the property to be bought is VAT elected or not.

If the commercial property is subject to any of the occupational leases or not.

All the asbestos reports.

After all, this when once the solicitor is satisfied with the information that is provided from the due diligence, all the terms and conditions of the sale contract will be negotiated and agreed. Then the transfer deed would also be agreed and will be registered and then it will pass the legal title to the buyer. After this the Redemption figure obtained and the Contracts are exchanged. The office space for purchase in greater Noida also will be in a more or less similar process as any commercial property is sold.

After the contracts are exchanged the solicitor will obtain the final redemption figure from the lender in order to know the exact amount of money that will be required to discharge the mortgage on completion. After this, the undertakings and payment procedure is continued. Lastly on completion of the process, the balance or the purchase monies or amount are sent to our solicitor. After this first and foremost our mortgage will be discharged and then we will be sent any remaining sale proceeds. At the completion of the process the transfer deed will be completed and then the legal title that is within the property passes itself to the buyer. Then the all the keys of that property are handed over to the buyer as and when the process of selling of the property is complete. Then our solicitor will be sending our signed transfer deed or any deeds that are related to the property to the buyer’s solicitor.

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