[London, 03/08/2018] - Before Saracens Solicitors commercial lease solicitor can take any instruction, they need to verify the landlord’s identity, have evidence of the origin of the funds being used, and have heads of terms setting out the terms of the agreement. Once they have these, Saracens Solicitors commercial lease solicitor can proceed to:

Contact the Tenant’s Solicitors

Saracens Solicitors commercial lease solicitor send letters to confirm their instructions in relation to the transaction taking place, and to verify the heads of terms. The next step is:

Draft Documentation and Sale pack

The sale pack that Saracens Solicitors commercial lease solicitor will put together usually contains:

• The title deeds
• Copies of leases
• Information for Commercial Property Standard Enquiries
• Energy efficiency report
• Information on service charges and ground rent
• Certificate of insurance for the building.

Saracens Solicitors commercial lease solicitor will also draft various documents that will be needed, such as:

• Lease
• Rent deposit deed
• Licence for Alterations
• Declaration to exclude the protection of the Landlord and Tenant Act 1954.

If both parties decide to go ahead, Saracens Solicitors commercial lease solicitor’s next job is to send the documents to the tenant’s commercial lease solicitor for approval and then signing and to make sure the landlord signs their copies of the documents in front of witness.

The Tenant’s Enquiries

The tenant’s commercial lease solicitor may send in a set of enquiries, which Saracens Solicitors will respond to with information and documentation from the landlord.

Amendments

If the tenant’s commercial lease solicitor has proposed amendments to the lease, Saracens Solicitors will consult with the landlord about them and implement instructions. Saracens Solicitors commercial lease solicitor will also negotiate with the tenant’s solicitor to agree the rent deposit deed and the Licence for Alterations.

The next step is to provide a:

Completion statement

This lists any monies due under the lease, such as:

• Premium
• Rent in advance
• Rent/insurance rent due
• Service charges
• Deposit amount.

Once the monies have been transferred into the account of Saracens Solicitors commercial lease solicitor, the transaction can be completed.

Learn more at their website https://saracenssolicitors.co.uk/.