Conveyancing quotes comparison is something that not everyone who is buying or selling a house is aware of, but they should be as it can save you money and time.
No longer do you have to use the conveyancer recommended by your estate agent – you are free to choose whoever you would like to.
Does conveyancing on a commercial property differ to that of a residential one? Conveyancing comparison is still available for commercial conveyancers, but what exactly is the process?
The good news is that most of the process is the same as the work that conveyancing solicitors do for a residential property sale however, there are some important differences. The main difference is that contracts in a commercial sale tend to be exchanged much earlier in the process than with a residential sale and purchase. In a residential sale, once an offer has been accepted, then the searches will be carried out. The exchange will happen only after this has been done and, in essence, the contracts are really ready to be completed.
In commercial conveyancing, the exchange happens first, before the searches, although there is an opt-out clause that potential buyers can use should anything be thrown up by the searches that means they cannot or should not purchase the property. Whereas residential sales are exempt from VAT (currently 20%), commercial property may need to have this paid – although the rules on VAT and commercial property are complicated and require specialist advice. Despite this, commercial conveyancing is often less expensive than residential conveyancing.
Using a conveyancing quotes comparison site is the first thing you should do when you are ready to instruct a solicitor – or even before!
At Conveyancing Index (https://www.conveyancingindex.co.uk), we can save you money on your solicitors’ fees every time.
Visit us or call 0203 874 2020 for more details.