Q: I am thinking about purchasing a commercial property, but I want to know as much about the property as possible before going through with it. What should I consider? Do I have a time period to analyze the property? What if I decide I no longer want to purchase the property due to my findings? A: When entering into a commercial property transaction as a buyer, it is important to include a Due Diligence clause [...]
Does a seller of commercial real estate really need an attorney? I get asked this question often, and the resounding answer is "yes!" Often, sellers of commercial real estate assume they can rely on the buyer's attorney or broker to represent their interests. However, it is imperative for sellers to procure their own attorney, partly due to the complex nature of such transactions. If a seller engages an attorney early in the process, the attorney [...]
In an attempt to address the complexities surrounding empty property relief from business rates, changes have been made to legislation that apply from 1st April 2024. The amendments concern the eligibility criteria for seeking empty property relief. Empty property relief from business rates can be claimed on commercial properties that are empty for three months (or six months for industrial and warehouse properties). Previously, if the property was then let for a period of six [...]