How is commercial conveyancing different from residential conveyancing
The transfer of a freehold commercial premises is very similar to a transfer of a residential premises. Where commercial conveyancing differs is that the conveyancer must have particular regard to GST clauses in the contract, and have a good understanding of retail leases to ensure that any lease the sale may be subject to was prepared correctly with guarantees and disclosure statements as applicable.
In many cases, a vendor registering or deregistering for GST between the day of sale and settlement can cause purchasers a lot of issues, and as such it is essential that an experienced conveyancer’s advice be obtained before entering into a sale for a commercial premises.