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Commercial Selling Process

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1 Valuation and survey

You want to sell your commercial premises for the best market value. With over 20 years of experience in the industry Glenmore pride itself in providing honest valuations alongside the necessary comparables in your area. We will also keep you informed of any market fluctuations in order to manage expectations. It is important to manage a commercial property’s market value correctly in order to attract potential buyers.

2 Selecting an estate agent and instructing a solicitor

At Glenmore, our Commercial Property team benefits from our wide insight into the property market. With over 20 years of experience, we have handled a variety of premises including industrial, office space, retail & leisure and rural business space. Through our strategic work with property owners, investors and tenants, we help ensure properties are used to their full potential. Selling your property will be an important business decision, and choosing the right agency will be important to help you with the entire process. At Glenmore, we will provide a comfortable environment, expert services and the enthusiasm to help you sell your premises for the very best price. We will deliver professional advice and ensure quality marketing content to showcase your property. At the same time, a solicitor’s guidance and instructions will be crucial to help you with your decision. Ensuring that the sale of your property goes through on time, without delay, can become stressful, therefore it is important to do some basic research into which conveyance solicitor is best for you. You can also save time when selling your premises by letting your solicitor know in advance that you would like to use their services for the sale.

3 Presenting your property

You want to attract a buyer within a short time frame. Glenmore want you to achieve this and so we will help you have the best business on the market. There is a high demand for good commercial premises and the chances therefore are that your business may sell very quickly. We would encourage you to have your property clean and well decorated to attract a buyer. Improvements made before you let will realise a greater offer. Glenmore will provide quality marketing for your property, including online property search engines (Glenmore Properties, Zoopla, Right Move, etc), sales particulars on our shop front, custom sales portfolios, as well as directly contacting clients on our books.

4 Receiving an offer

The buyers like what they see and have submitted a formal offer. We will notify both parties both verbally and in writing, consisting of any conditions that were agreed upon beforehand.

5 Enquiries from Buyer’s side, exchange of contracts, and setting of completion date.

The buyer’s solicitor will submit enquiries and their mortgage offer regarding the property to you and your solicitor. Once they are satisfied with their search the solicitor and buying party will invite you to sign the contract. Thereafter a completion date will be suggested, where the money from the buyer’s side is transferred into your account. The completion date will be inserted into the contract. Once both parties have signed documents, the contracts will be exchanged, thus forming a legally binding relationship between yourself and the buyer and committing both parties to the sale. At this point the deposit will be paid by the buyer.

6 Completion

The buyer’s solicitor will start the process of transferring legal ownership of the property from you to the buyer’s name using the Transfer Deed document. This will be sent to you to be signed and returned. On the day of completion, the buyer’s solicitor will transfer the purchase amount to you or your solicitor’s account. The buyer will now be handed the keys for the vacant property and the land registry has now been updated. The process is now complete.