Commercial property matters have little or nothing in common with domestic conveyancing transactions.
The solicitor’s job on the purchase of residential property is mechanical and stereotyped. He seldom ‘adds any value’ to the transaction, the client gets the same property, with the same state registered title whatever solicitor he has used. Most of the work can be (and usually is) done by unqualified staff. Because domestic conveyancing transactions are stereotyped, the solicitor can give a ‘fixed price quote’ for doing the work, because the work involved is so formulaic.
A commercial property transaction is radically different from a residential property one, particularly the grant of a lease. If the client has a good solicitor the client will always end up with a radically different lease from the one he would end up with if he used a less competent one.
A Good Commercial Solicitor can add real value to the transaction by preventing the client ending up with a Bad Deal.
We at Barney & Co. give our clients the best possible advice on a commercial property matter, so that the client gets the very best possible deal, fighting the client’s corner to get the necessary amendments to the documentation which are vital for a successful outcome.
No two commercial lease transactions are the same. The amount of time we need to spend in order to protect the interests of the client can never be accurately predicted in advance. We can never know in advance how ‘difficult’ the landlord or his solicitors will be to deal with in getting the amendments which we believe are needed for your protection.
That is why we cannot give a fixed price quote for our fees. If you get a fixed price quote for a transaction involving the grant of a commercial lease – beware! You are likely to get a less than satisfactory outcome. You may not find out until much later that it is going to cost you a lot of money. (For instance, you may be liable for repairs to the building which you had not expected or for excessive landlord’s service charges).